Page 203 - SAMRC AnnualReport 2025-26

G O V E R NAN C E
8. The Board must ensure that the SAMRC is and 17.
is seen to be a responsible corporate citizen by
having regard to not only the financial aspects
of the business of the SAMRC but also the
impact that business operations have on the
environment and the society within which it
operates.
9. The Board must ensure that the SAMRC ethics
are managed effectively.
19.
10. The Board must ensure that the SAMRC
establishes and maintains:
› effective, efficient, and transparent systems of
financial management, risk management and 20.
internal control.
› a system of internal audit under the control and
direction of an audit committee complying
with, and operating in accordance with, the
regulations and instructions which are set out
in Sections 76 and 77 of the PFMA. 21.
› an appropriate procurement and provisioning
system that is fair, equitable, transparent,
competitive and cost effective.
22.
› a system for properly evaluating all major
capital projects prior to the final decision on
a project.
11. The Board is responsible for the governance of
risk.
12. The Board is responsible for information
technology (IT) governance.
13. The Board must ensure that the SAMRC
complies with applicable laws and considers
adherence to non-binding rules and standards.
14. The Board must approve and ensure that the
SAMRC submits all reports, returns, notices
and other information required by Parliament,
the Executive Authority and Treasury.
15. The Board must appreciate that stakeholder’s 23.
perceptions affect the SAMRC’s reputation.
16. The Board must approve the SAMRC’s five-
year Strategic Plan before submission to the
Executive Authority.
SA M R C A N N U A L R EP O R T 2 0 2 5 / 2 0 2 6 201
The Board must approve the SAMRC’s Annual
Report, Compliance Report(s), Strategic
Plan and Annual Performance Plan before
submission to the Executive Authority.
18. The Board must approve the SAMRC’s Annual
Financial Statements before submission to
the Auditor General and subsequently to the
executive authority.
The Board must approve the SAMRC’s
budget for the financial year in the prescribed
format before submission to Treasury and the
executive authority.
The Board must take effective and appropriate
steps to prevent irregular and fruitless and
wasteful expenditure, losses resulting from
criminal conduct, and expenditure not
complying with the operational policies of the
SAMRC.
The Board must ensure that the SAMRC
conducts an independent institutional review
every five years.
The Board must act in the best interests of the
SAMRC by ensuring that individual members of
the Board:
› adhere to legal standards of conduct.
› are permitted to take independent advice
in connection with their duties following an
agreed procedure.
› participate in the deliberations and are
enabled to vote for the approval or rejection
of a motion/proposal/or recommendation
placed before them.
› disclose real or perceived conflicts to the
Board and deal with them accordingly. As
such, the Board must compile and retain a
register of interests for all Board members
and update this register once every year.
The Board should do everything necessary to
fulfil its role set out above.