RISK TREND
Description
REGULATION AND COMPLIANCE RISK
The risk describes the wide range of legislation that the group must comply with . The material acts are , inter alia , the Companies Act , relevant tax regulations , Competition Act , Financial Intelligence Centre Act ( FICA ), Financial Markets Act , Financial Advisory & Intermediary Services ( FAIS ), National Credit Act ( NCA ), Consumer Protection Act ( CPA ), Protection of Personal Information Act ( POP- IA ) and the Occupational Health and Safety Act ( OHSA ).
Mitigation and Control The board accepts total responsibility for compliance with all applicable legislation and regulatory requirements . This is reported via the internal Compliance Committee and then to the Risk Committee as well as the Audit Committee . Focused attention is be-
Opportunities
� Continuously drive improvement and optimisation of the group ’ s compliance coverage plan .
� Strive for a culture of compliance through cultivating an understanding of regulatory compliance requirements by means of continuously upskilling and training personnel in this regard .
Strategic focus areas triggered
� Reorganisation of business models . For more info on the group strategy see p . 44
ing afforded to compliance aspects throughout the company . The board officially adopted the Group Compliance Coverage plan that involves a group-wide approach to compliance .
RISK TREND
THEFT AND FRAUD RISK
Description The economic climate gives rise to theft and fraudulent activities , especially involving high-value commodities such as grain . The diversified nature of the group ’ s activities also increases the possibilities of theft or fraud . This is further increased by the complexity of certain activities which require special control measures .
Mitigation and Control A refocus of business processes , a culture programme , redesign of appointment practices and the upgrading of physical control measures are some of the management actions implemented to mitigate the risk to an acceptable level . The code of conduct is embedded in the risk culture of the company , which contributes to the mitigation of this risk .
Opportunities
� Develop and / or optimise the group ’ s code of conduct and ethics processes , also by utilising the latest technology in this regard .
� Strengthen the group ’ s anti-theft and fraud culture by means of continuously raising awareness and training personnel as well as optimising and adapting response processes and penalty proceedings in this regard .
Strategic focus areas triggered
� Reorganisation of business models . For more info on the group strategy see p . 44
94 ROOTED IN AGRICULTURE