OUR GOVERNANCE
Driving Value Creation
Strategy, Performance and Reporting
The Board appreciates that SAICA’s value proposition, its risks and opportunities, strategy, business model, performance and sustainable development are all inseparable elements of the value creation process.
Board’s monitoring of implementation of strategy
The successful execution of our strategy through exceptional operational performance is vital for all stakeholders, making it a fundamental responsibility for both the Board and management.
The Board not only approves SAICA’s strategy, but it also sets the performance measures and targets that determine our success.
In this approval process, the Board carefully evaluates the risks and opportunities associated with both the strategy and its implementation, ensuring that our business model aligns seamlessly with SAICA’s strategic objectives. During each Board meeting, the CEO provides updates on the progress of strategy implementation and the attainment of key objectives. This evaluation is not only discussed at the Board level but is also considered by the HR & REMCO, particularly when determining the annual bonus payments for management.
A significant development in 2024 was the introduction of the Quarterly Integrated Performance Reports. These facilitate the Board’s monitoring of performance against strategy and were very well received.
Read more about our performance against strategy.
Reporting
The Board ensures that reports issued by SAICA enable stakeholders to make informed assessments of SAICA’s performance, and its short-, medium- and long-term prospects.
The Board sets the direction, approach and conduct for the reporting of SAICA affairs and performance to stakeholders. This is achieved during the annual approval of a reporting framework. The Board also ensures that the reporting frameworks comply with all regulatory obligations, which include the principles of King IV™.
The Board approved SAICA’s integrated report and has satisfied itself with regard to the assurances provided by relevant third parties.
Appointment and Delegation to Management
The Board ensures that the appointment of and delegation to management contribute to role clarity and the effective exercise of authority and responsibilities.
Delegation of authority and leadership at SAICA
The Board annually reviews its Delegation of Authority (DOA) to clarify decision-making responsibilities. This framework strikes a balance between delegating decisions to the right levels and empowering management to make appropriate business choices. The DOA covers key areas such as corporate governance, strategy, investments, capital expenditure, funding, human resources, and contracts. The Board is confident that the DOA effectively clarifies roles and enhances decision-making.
The CEO, appointed by the Board, is crucial in shaping SAICA’s future. Reporting directly to the Chairperson, the CEO develops a long-term vision and strategy to drive growth and sustainability, guiding the organisation’s direction and leading operational initiatives.
Additionally, the Board Secretary plays an important role by providing guidance to the Board and individual directors on their responsibilities. While not a Board member, the Secretary maintains an impartial perspective and ensures effective governance. Directors have unlimited access to the Board Secretary for support, leading to a well-functioning Board that ensures informed decision-making. Together, these roles work to ensure SAICA’s success and smooth operations.
