The board should act as the focal point for and custodian of corporate governance   ✓
The board should appreciate that strategy, risk, performance and sustainability are inseparable   ✓
The board should provide effective leadership based on an ethical foundation   ✓
The board should ensure that the company is and is seen to be a responsible corporate citizen   ✓
The board should ensure that the company’s ethics are managed effectively   ✓
The board should ensure that the company has an effective and independent audit committee   ✓
The board should be responsible for the governance of risk   ✓
The board should be responsible for information technology (IT) governance
The board should ensure that the company complies with applicable laws and considers adherence to non-binding rules, codes and standards   ✓
The board should ensure that there is an effective risk-based internal audit   ✓
The board should appreciate that stakeholders’ perceptions affect the company’s reputation   ✓
The board should ensure the integrity of the company’s integrated report   ✓
The board should report on the effectiveness of the company’s system of internal controls   ✓
The board and its directors should act in the best interests of the company   ✓
The board should consider business rescue proceedings or other turnaround mechanisms as soon as the company is financially distressed as defined in the Act   ✓
The board should elect a chairman of the board who is an independent non-executive director. The CEO of the company should not also fulfil the role of chairman of the board   ✓
The board should appoint the chief executive officer and establish a framework for the delegation of authority   ✓
The board should comprise a balance of power, with a majority of non-executive directors. The majority of non- executive directors should be independent   ✓
Directors should be appointed through a formal process   ✓
The induction of and ongoing training and development of directors should be conducted through formal processes   ✓
The board should be assisted by a competent, suitably qualified and experienced company secretary   ✓
The evaluation of the board, its committees and the individual directors should be performed every year   ✓
The board should delegate certain functions to well-structured committees but without abdicating its own responsibilities   ✓
A governance framework should be agreed between the group and its subsidiary boards   ✓
Companies should remunerate directors and executives fairly and responsibly   ✓
Companies should disclose the remuneration of each individual director and certain senior executives   ✓
Shareholders should approve the company’s remuneration policy   ✓