Page 19 - GSA Annual Report / Jaarverslag 2013

Verslag oor korporatiewe beheer
report on corporate governance
17
The management of risk
Summary
Die bestuur van risiko
Opsomming
The Internal Audit function formally identified possible risks in the Organisation by way of extended
management control measures. Each risk was prioritised on the basis of the impact that the risk
involved would have on the business if it occurred, and also on the probability that it would occur. The
high-priority risks are addressed first. This information is discussed during audit committee meetings, as
are action plans proposed by the management. Management then implements certain control measures
to limit these risks.
The effectiveness of the Internal Audit Committee, the external auditors and management, contributes
towards assuring members that risks are properly managed.
As part of the process, management also identified the dependence on funding by external trusts as a
risk. Grain SA is actively investigating alternative sources of funding in order to reduce the risk.
The NAMPO Harvest Day still makes a significant contribution to the sustainability of the Organisation,
and the necessary capital expenditure was employed to support the objective.
Die Interne Ouditfunksie het formeel, by wyse van uitgebreide bestuursbeheermaatreëls, moontlike
risiko’s in die Organisasie geïdentifiseer. Elke risiko word geprioritiseer op grond van die impak
wat die betrokke risiko op die besigheid sal hê indien dit voorkom, en ook die waarskynlikheid dat
dit sal voorkom. Die hoë-prioriteitsrisiko’s word eerste aangespreek. Hierdie inligting word tydens
ouditkomiteevergaderings bespreek en so ook aksieplanne wat deur die bestuur voorgestel is. Die
bestuur implementeer daarna sekere beheermaatreëls om hierdie risiko’s te beperk.
Die doeltreffendheid van die Interne Ouditkomitee, die eksterne ouditeurs en bestuur dra daartoe by om
lede te verseker dat risiko’s behoorlik bestuur word.
Die bestuur
implementeer sekere
beheermaatreëls om
risiko’s te beperk.