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CORPORATE GOVERNANCE REVIEW
(CONTINUED)
As the company’s only assets are the
investments in MultiChoice South Africa
Holdings Proprietary Limited, the board deems it
appropriate that all its members be appointed to
the audit committee.The audit committee has
pleasure in submitting this report, as required by
section 94 of the Companies Act of South Africa
No 71 of 2008, as amended (the Act).
FUNCTIONS OF THE AUDIT
COMMITTEE
The committee has discharged the following
functions:
Reviewed the year-end financial statements,
culminating in a recommendation to the
board to adopt these. In the course of its
review, the committee:
•
took appropriate steps to ensure the
annual financial statements are prepared
in line with International Financial Reporting
Standards (IFRS) and as required by the Act
•
considered and, when appropriate, made
recommendations on internal financial
controls
•
dealt with concerns or complaints on
accounting policies, the auditing or content
of annual financial statements, and internal
financial controls, and
•
reviewed legal matters that could have a
significant impact on the organisation’s
annual financial statements.
Reviewed external audit reports on the
annual financial statements.
Verified the independence of the external
auditor and nominated
PricewaterhouseCoopers Inc. as the auditor
for FY2017 and noted the appointment of
Ms S N Madikane as the designated auditor.
Approved audit fees and engagement terms
of the external auditor.
No non-audit services were provided by the
external auditor.
MEMBERS OF THE AUDIT
COMMITTEE
The committee comprises the non-executive
directors of the company. All members act
independently as described in section 94 of
the Act, and served for the full financial year.
REPORT OFTHE AUDIT COMMITTEE
FORTHEYEAR ENDED 31 MARCH 2017
Phuthuma Nathi Investments (RF) Limited
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Integrated annual report 2017
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