BOARD
COMMITTEES ACCESS TO INFORMATION
FUNCTIONS AND MANDATES Shareholders also have access to the shares register, minutes
of members’ meetings and information regarding a number
of Company matters. Any enquiries may be addressed to the
Company Secretary as Chief Information Officer.
The Board established a number of committees to facilitate
effective decision-making and to assist the Board in the execution
of its duties and powers, whilst still reserving the material decisions
for itself in terms of the “Reservation of Authority”. The powers and
execution of the responsibilities of each committee are arranged
by means of formal, written mandates which are reviewed and
approved by the Board on an annual basis.
The current board committees are as follows:
• Audit Committee
• Investment Committee
• Nomination Committee
• Remuneration Committee
• Risk Committee
• Social & Ethics Committee
The chairmen of these committees report formally against each
of the mandates to the Board. Overall the Board has expressed
its satisfaction with the active role that each board committee
plays in ensuring that the complex responsibilities of the Board
are properly executed and addressed.
18
Senwes INTEGRATED REPORT 2015
The Company complies with the Access to Information Act,
2000 and a manual in this regard is available on the Company’s
website.
RISK AND SUSTAINABILITY
ASPECTS AT BOARD LEVEL
Senwes Group Risk Management uses the COSO Enterprise
Risk Management framework as basis for our risk management
methodology. The COSO framework has been adapted according
to the Senwes needs and consists of eight interrelated components.
These are derived from the way management runs a business
and are integrated with the management process. These
components are:
• Internal environment
• Objective setting
• Event identification
• Risk assessment
• Risk response
• Control activities
• Information and communication
• Monitoring