ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2009
DIRECTORS’ REPORT (continued) Board audit and risk management committee The sub committee consists of the following non executive members: Name
Appointed
Mr VG Magan
Non executive Chairperson
1 January 2008
Mr D Hensman
Non executive
1 January 2008
Ms A Thomani
Non executive
1 January 2008
Ms M Nyathi
Non executive
1 January 2008
Name
22/04/2008
25/06/2008
14/10/2008
27/01/2009
Mr VG Magan
Y
Y
Y
Y
Mr D Hensman
Y
Y
Y
Y
Ms A Thomani
Y
Y
N
Y
Ms M Nyathi
Y
Y
Y
N
Y
= Attended meeting
N
= Did not attend meeting
All of these members are independent non executive members. The board audit and risk management committee meets on a minimum of four occasions per annum. The Chief Audit Executive, the external auditors and such members of management as are deemed necessary also attend these meetings. The board audit and risk management committee is responsible for the internal controls and risk management of the entity delegated to it by the board of directors. In order to meet its requirements it reviews the findings of both internal and external auditors. In addition it reviews important accounting issues, material pending litigation if applicable, entity insurance, risk management and disclosure requirements in the annual financial statements. The responsibilities of this sub committee of the board of directors are set out in the report of the board audit and risk management committee which forms part of these annual financial statements.
2. Company Secretary The secretary of the company is CEF (Proprietary) Limited and the business and postal addresses are as follows: Business Address CEF House, Block C, Upper Grayston Office Park, 152 Ann Crescent, Strathavon, Sandton, 2031. Johannesburg.
SANERI ANNUAL REPORT 2009
Postal Address P O Box 786141 Sandton 2146
56
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