Page 203 - SAMRC Annual Report 2024-2025

GOVERNANCE

of the business of the SAMRC but also the 17. The Board must approve the SAMRC’s Annual
impact that business operations have on the Report, Compliance Report(s), Strategic Plan and
environment and the society within which it Annual Performance Plan before submission to
operates. the Executive Authority.

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

SAMRC ANNUAL REPOR T 2024-25 201