Page 44 - SAMRC Annual Performance Plan 2026-27

PART B: SAMRC STRATEGIC FOCUS
continued

9.3.17 Internal Audit and Audit Committee the SAMRC’s commitment to the Code provides a
The Internal Audit function is a key element of the framework of ethical practices and business conduct
organisation’s internal control. At the SAMRC, the that are applicable to the Board, employees and
internal audit function is outsourced, and reports external stakeholders.
functionally to the SAMRC Board Committee,
Audit Risk and Information Technology Committee Each SAMRC employee is required to declare any
(ARIC). Internal Audit has unrestricted access to the interest and potential conflicts of interest on an
Chairperson of the ARIC and the SAMRC President. annual basis via an online declaration of interest
The Internal Audit function works closely with the system. All outside work, financial and private
Risk Management function and engages with the interest, and any other business activities, including
external auditors on an ongoing basis. gifts, must be declared when completing the
SAMRC staff annual Online Declaration of Interest.
The work of Internal Audit focuses primarily on Failure to disclose interests, or the wilful provision of
areas that present the greatest risk to the SAMRC. incorrect or misleading details can lead to charges
This is achieved by following a risk-based assurance of misconduct.
approach, focus on the key risk exposure as approved
by the Board. An Internal Audit Plan is prepared 9.3.19 Governance
annually and set on a three-year rolling basis. Focus The SAMRC’s demonstrated good governance as
areas are determined and updated annually using a evidenced by 10 clean audits over the past 11 years.
risk-based approach considering the risk assessments In its management report for the 2024/25 financial
conducted in the public entity and ensuring the work year, AGSA highlighted that the SAMRC has
is appropriately aligned to and coordinated with the strong control environment, effective management
activities of other relevant assurance providers. The practices, high performance standards, integrity,
SAMRC captures and track all internal and external accountability and upholds its mission.
audit findings, mitigating actions and responsibilities
and is followed up quarterly by Internal Audit. The 9.3.20 B-BBEE Compliance Performance
Information
ARIC receives quarterly reports on progress against As contained in the annual report guide for Schedule
the Internal Audit Plan and corrective actions taken 3A and 3C public entities, the SAMRC applies the
by management in response to audit findings. relevant Code of Good Practice in the manner
described in the table below, and the same was
9.3.18 Managing Conflicts of Interest included in the audited SAMRC Annual Report of
The SAMRC’s commitment to high standards of
business conduct and ethics is set out in the SAMRC’s 2024/25:
values and is supported by the Code of Business
Conduct Framework Policy (Code). In this regard

42 SAMRC ANNUAL PERFORMANCE PLAN 2026/27