Understanding Phuthuma Nathi Phuthuma Nathi audit committee report continued for the year ended 31 March 2023 Name of committee member Quali cation Mandla Langa Diploma in Offset Litho Printing (London College of Printing), Certi cate in Periodical Journalism (University of London), BA (English and Philosophy) and MA (Creative Writing) (University of Witwatersrand) Clarissa Portia Mack(1) LLB, LLM and PG Dip in Economics for Competition Law (King’s College London) Herman Wessels(2) BCom, CTA and CA(SA) James Hart du Preez(3) CA(SA), CD(SA), CM(SA) Adv Kgomotso Moroka SC(4) BProc and LLB (1) Retired 6 June 2023. (2) Retired 6 June 2023. (3) Appointed 6 June 2023. (4) Appointed 6 June 2023. The committee members as at date hereof are recommended for election as committee members by shareholders at the annual general meeting to be held on 23 August 2023. Members of the audit committee The committee consists of independent nonexecutive directors and meets at least once per year and on an ad hoc basis as required which is in accordance with its charter. All members act independently, are nancially literate, have sound business and nancial acumen and comply with all other requirements of section 94 of the Act. The committee has unrestricted access to company information falling within the committee’s mandate and liaises with management on the information it requires to carry out its responsibilities. The names of the members who were in of ce during 2023, and up to the date of this report, are re ected below. Attendance The external auditor, in their capacity as auditor to the company, attended and reported at the meeting of the audit committee. Relevant managers attended meetings by invitation. ˀan˗atorˬ au˗it firm rotation an˗ external auditor for 2024 Following a formal selection process in line with the mandatory audit rm rotation regulations of the Independent Regulatory Board for Auditors (IRBA), EY has been appointed as the external auditors from FY24. The EY partner responsible for the audit will be Hlengiwe Ndlela. ʶonfi˗ential meetin˚s Audit committee agendas provide for con dential meetings between the committee members and the external auditor. Independence of external auditor During the year under review, the audit committee reviewed a representation by the external auditor and, after conducting its own review, con rmed the independence of the auditor. Expertise and experience of the finance function The committee satis ed itself that the composition, experience and skills of the nance function met the company’s requirements. Discharge of responsibilities The committee determined that during the nancial year under review it had discharged its legal and other responsibilities as outlined in terms of the Act. The board concurred with this assessment. Mandla Langa Chair: Audit committee Phuthuma Nathi Investments (RF) Limited Integrated annual report 2023 18
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