HIGHEST STANDARDS

OF GOVERNANCE

HIGHEST STANDARDS OF GOVERNANCE

BOARD COMMITTEE REPORTS

Board Committee Focus 2022 and Outlook for the Year Ahead 2023

BOARD COMMITTEE REPORTS

Board Committee Focus 2022 and Outlook for the Year Ahead 2023

Human Resources and Remuneration Committee (HR & REMCO)

Chairperson – Yasmin Forbes

MEMBERS AS AT 1 JANUARY 2022 TO 31 DECEMBER 2022

All HR & REMCO committee members were impacted by the SAICA Board member rotation at the SAICA AGM on 26 May 2022, leading to a completely new committee composition.
  • Yasmin Forbes (Chairperson since 6 June 2022) – 100% Attendance
  • Bonolo Ramokhele (Chairperson until May 2022) – 100% Attendance
  • Tintswalo Mofokeng (From 6 June 2022)
  • Dheren Singh (From 6 June 2022) – 100% Attendance
  • Patricia Stock** (Until 26 May 2022) – 100% Attendance
  • Ilse Lubbe (Until 26 May 2022) – 100% Attendance
  • Monica Singer (Until 27 May 2022) – 100% Attendance
  • Pumza Seokane* (Until March 2022) – N/A
* External HR specialist ** ARC Chair

Committee purpose and how it contributes to value generation

The Human Resources and Remuneration Committee’s (HR & REMCO) main responsibility is to support the Board in providing independent oversight of:
  • Recommending to the Board for approval a developed strategy and supporting policies for the acquisition, management, retention, and fair and responsible remuneration of Human Capital in compliance with legal requirements, governance standards, and industry best practices
  • Overseeing the overall governance of Human Capital management; defining and managing SAICA’s remuneration and reward policy, framework and strategy; and providing the Board with assurances in these areas

Declaration

The committee met six times and reports that for the year ended 31 December 2022, it is satisfied that it has fulfilled its responsibilities in accordance with the Companies Act, the Board Charter, the Committee Terms of Reference, King IV™ and other applicable standards and codes.

  • HR & REMCO induction for new committee members
  • HR & REMCO workplan, including high-level oversight on HC strategy implementation (employee engagement, enablement and experience)
  • Considering the annual salary review and short-term incentive payment and recommending to the Board for approval
  • Remuneration and reward policy review process initiation
  • Board succession planning (IoDSA training and policy development)
  • HR & REMCO continuous professional development
  • Reviewing and addressing HR & REMCO matters regarding the Board Effectiveness Review March 2022 Action Plan
  • Reviewing the Human Capital policy universe
  • Considering and recommending SAICA’s balanced scorecard for 2022 to the Board (including divisional balanced scorecards)
  • Recommending SAICA’s balanced scorecard for 2023 to the Board (including divisional balanced scorecards)

See Human Capital Management for more information

For additional information on remuneration see our Remuneration Report
  • SAICA 2024–2026 strategy review (participation and contribution)
  • Consider SAICA’s balanced scorecard for 2023 and recommend for approval to the Board
  • HR & REMCO workplan including high-level oversight on HC strategy implementation (employee engagement, enablement and experience)
  • Considering the annual salary review and short-term incentive payment and recommending to the Board for approval
  • HR & REMCO continuous professional development
  • Oversight of the strategic actions in response to the outcomes of the employee engagement survey

RISKS

CAPITALS

KING IV

STAKEHOLDERS

  • Employees and Members

Ms Yasmin Forbes

Chairperson

Human Resources and Remuneration Committee (HR & REMCO)

Chairperson – Yasmin Forbes

MEMBERS AS AT 1 JANUARY 2022 TO 31 DECEMBER 2022

All HR & REMCO committee members were impacted by the SAICA Board member rotation at the SAICA AGM on 26 May 2022, leading to a completely new committee composition.
  • Yasmin Forbes (Chairperson since 6 June 2022) – 100% Attendance
  • Bonolo Ramokhele (Chairperson until May 2022) – 100% Attendance
  • Tintswalo Mofokeng (From 6 June 2022)
  • Dheren Singh (From 6 June 2022) – 100% Attendance
  • Patricia Stock** (Until 26 May 2022) – 100% Attendance
  • Ilse Lubbe (Until 26 May 2022) – 100% Attendance
  • Monica Singer (Until 27 May 2022) – 100% Attendance
  • Pumza Seokane* (Until March 2022) – N/A
* External HR specialist ** ARC Chair

Committee purpose and how it contributes to value generation

The Human Resources and Remuneration Committee’s (HR & REMCO) main responsibility is to support the Board in providing independent oversight of:
  • Recommending to the Board for approval a developed strategy and supporting policies for the acquisition, management, retention, and fair and responsible remuneration of Human Capital in compliance with legal requirements, governance standards, and industry best practices
  • Overseeing the overall governance of Human Capital management; defining and managing SAICA’s remuneration and reward policy, framework and strategy; and providing the Board with assurances in these areas

Declaration

The committee met six times and reports that for the year ended 31 December 2022, it is satisfied that it has fulfilled its responsibilities in accordance with the Companies Act, the Board Charter, the Committee Terms of Reference, King IV™ and other applicable standards and codes.

  • HR & REMCO induction for new committee members
  • HR & REMCO workplan, including high-level oversight on HC strategy implementation (employee engagement, enablement and experience)
  • Considering the annual salary review and short-term incentive payment and recommending to the Board for approval
  • Remuneration and reward policy review process initiation
  • Board succession planning (IoDSA training and policy development)
  • HR & REMCO continuous professional development
  • Reviewing and addressing HR & REMCO matters regarding the Board Effectiveness Review March 2022 Action Plan
  • Reviewing the Human Capital policy universe
  • Considering and recommending SAICA’s balanced scorecard for 2022 to the Board (including divisional balanced scorecards)
  • Recommending SAICA’s balanced scorecard for 2023 to the Board (including divisional balanced scorecards)

See Human Capital Management for more information

For additional information on remuneration see our Remuneration Report
  • SAICA 2024–2026 strategy review (participation and contribution)
  • Consider SAICA’s balanced scorecard for 2023 and recommend for approval to the Board
  • HR & REMCO workplan including high-level oversight on HC strategy implementation (employee engagement, enablement and experience)
  • Considering the annual salary review and short-term incentive payment and recommending to the Board for approval
  • HR & REMCO continuous professional development
  • Oversight of the strategic actions in response to the outcomes of the employee engagement survey

RISKS

CAPITALS

KING IV

STAKEHOLDERS

  • Employees and Members

Ms Yasmin Forbes

Chairperson

EDUCATION AND ASSESSMENT COMMITTEE (EAC)

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SAICA Integrated Report 2022.
All Rights Reserved.

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SAICA Integrated Report 2022. All Rights Reserved.

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