The board is the custodian of the group’s corporate governance. The board and its committees, as well as the boards and committees of its subsidiaries, are responsible for ensuring the appropriate principles and practices of King IV are applied and embedded in the governance practices of group companies. A disciplined reporting structure ensures the board is fully apprised of subsidiary activities, risks and opportunities. All controlled entities in the group are expected to demonstrate good governance as set out in King IV, taking into account proportionality as a one‐size‐ ts‐all approach cannot be followed when implementing governance practices. This means that the practices needed to demonstrate the group’s governance in terms of King IV are applied across the group as appropriate for the relevant subsidiary because the companies in the group are diverse and at different stages of maturity. While good governance principles apply to all types and sizes of organisations, the practices implemented by each to achieve the principles are tailored to each unique entity. Practices are implemented as appropriate to The MultiChoice Group is committed to the highest standards of corporate governance, ethics and integrity, which we believe support our ability to create value for all stakeholders. We continue entrenching the principles of sound corporate governance throughout our multinational organisation, applying appropriate ethics and standards in the conduct of our business affairs. The board understands and accepts its responsibility to safeguard and represent the interests of the group’s stakeholders to create a successful and sustainable business that delivers on the group’s strategic objectives. give effect to overarching good governance principles. As part of the internal annual CEO/CFO sign‐off process, businesses across the group are required to con rm that they have aligned their policies to the MultiChoice Group policies, which set out the minimum standards across all jurisdictions. Business and governance structures have clear approval frameworks that are annually reviewed and aligned to the group levels of authority approved by the board. The board is satis ed that the delegation of authority framework contributes to role clarity and the effective exercise of authority and responsibilities. In relation to assessing corporate governance services, the MultiChoice Group has an internal company secretariat function, and conducts an annual assessment of the company secretary’s performance, quali cations and skills. Our group governance framework Corporate governance review continued Summarised governance review Phuthuma Nathi Investments (RF) Limited Integrated annual report 2023 86
RkJQdWJsaXNoZXIy MTAwNDEy