Overview 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 are as follows:

Assurance pertaining to financial controls and reporting is achieved by conducting extensive internal auditing across the Assore group by KPMG and SizweNtsalubaGobodo, who report to Assore’s Audit and Risk Committee on their findings, while in Assmang, 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.