Page 169 - SAMRC Annual Report 2023-24

GOVERNANCE

the business of the SAMRC but also the impact 17. The Board must approve the SAMRC’s Annual
that business operations have on the environment Report, Compliance Report(s), Strategic Plan and
and the society within which it operates. Annual Performance Plan before submission to
the Executive Authority.
9. The Board must ensure that the SAMRC ethics
are managed effectively. 18. The Board must approve the SAMRC’s Annual
Financial Statements before submission to
10. The Board must ensure that the SAMRC the Auditor-General and subsequently to the
establishes and maintains: executive authority.
a) effective, efficient, and transparent systems 19. The Board must approve the SAMRC’s budget
of financial management, risk management for the financial year in the prescribed format
and internal control. before submission to Treasury and the executive

b) a system of internal audit under the control authority.
and direction of an audit committee 20. The Board must take effective and appropriate
complying with, and operating in steps to prevent irregular and fruitless and
accordance with, the regulations and wasteful expenditure, losses resulting from
instructions which are set out in Sections 76 criminal conduct, and expenditure not complying
and 77 of the PFMA. with the operational policies of the SAMRC.

c) an appropriate procurement and 21. The Board must ensure that the SAMRC
provisioning system that is fair, equitable, conducts an independent institutional review
transparent, competitive and cost effective. every five years.

d) a system for properly evaluating all major 22. The Board must act in the best interests of the
capital projects prior to the final decision on SAMRC by ensuring that individual members of
a project. the Board:

11. The Board is responsible for the governance a) adhere to legal standards of conduct.
of risk.
b) are permitted to take independent advice
12. The Board is responsible for Information in connection with their duties following an
Technology (IT) governance. agreed procedure.
13. The Board must ensure that the SAMRC complies c) participate in the deliberations and are
with applicable laws and considers adherence to enabled to vote for the approval or rejection
non-binding rules and standards. of a motion/proposal/or recommendation
14. The Board must approve and ensure that the placed before them.
SAMRC submits all reports, returns, notices and d) disclose real or perceived conflicts to the
other information required by Parliament, the Board and deal with them accordingly. As
Executive Authority and Treasury. such, the Board must compile and retain a

15. The Board must appreciate that stakeholder’s register of interests for all Board members
perceptions affect the SAMRC’s reputation. and update this register once every year.
16. The Board must approve the SAMRC’s five- 23. The Board should do everything necessary to
year Strategic Plan before submission to the fulfil its role set out above.
Executive Authority.

SAMRC ANNUAL REPOR T 2023-24 167