Assurance

The Assore group subscribes to a combined assurance model, which is intended to identify and control risks inherent in the business of the group by making use of assurance providers, both third party and in-house, in conjunction with Assmang's Risk Management department (referred to as internal management). Assurance is addressed across the areas of Safety, Health, Risk, Environment, Quality (collectively referred to as SHREQ) and corporate governance.

Assurance providers          
 

Assore

Ibis ESG Assurance South Africa Proprietary Limited (Ibis), TUV Rheinland Inspection Services Proprietary Limited (TUV Rheinland) and Environmental Law Group

Assmang

Environmental Law Group, DQS South Africa Proprietary Limited (DQS), South African Bureau of Standards (SABS)

 

Standard(s) and comment

ISO 14001 (2004). Limited assurance for Assore is provided in the form of bi-annual audits on legal compliance by various professional consultants and certification by TUV Rheinland. Assore and Assmang have received independent assurance on specified elements of safety, health and sustainability indicators from Ibis

 
 

Assore

PwC (from 1 July 2018), KPMG and SizweNtsalubaGobodo Grant Thornton (until 30 June 2018)

Assmang
KPMG (until 31 December 2017), Deloitte (from 12 March 2018)

  Standard(s) and comment
ISO 31000
 
 

Assore
Various professional consultants

Assmang

LCS, DQS, SABS

  Standard(s) and comment
Per provider and the Department of Mineral Resources (DMR). Limited assurance for Assore is provided in the form of bi-annual audits on legal compliance
 
 

Assore
TUV Rheinland

Assmang

Internal management

  Standard(s) and comment
ISO 9001 (2008). Limited assurance for Assore is provided in the form of certification by TUV Rheinland
 
  Assore
Institute of Directors (IoD)
  Standard(s) and comment
The Governance Instrument (GI) is a third-party product (www.governance.africa) applied in the management of the group’s governance, whereby the completeness of process contained in the GI provides assurance to executives and board members
 

Assurance pertaining to financial controls and reporting is achieved by conducting extensive internal auditing across the Assore group by KPMG, SizweNtsalubaGobodo Grant Thornton who report to Assore's Audit and Risk committee on their findings, while in Assmang, Deloitte (previously KPMG) as internal auditor of all its divisions, reports related findings to Assmang's Audit committee.

These Audit and Risk committees, supported by their respective Social and Ethics committees, ensure close working relationships between external audit and internal audit, to ensure that the assurance provided by Ernst & Young Inc., for both Assmang and the Assore group, on their respective financial statements, provides reasonable assurance for the relevant external audit opinions.