Interfront 2025 Annual Report

Table of Contents GENERAL INFORMATION 02 01 Corporate Information 3 02 Foreword by the Chairperson 4 03 Overview by the Acting Managing Director 7 04 Statement of Responsibility and Confirmation of Accuracy 11 05 Strategic Overview 12 06 Legislative and other Mandates 16 07 Organisational Structure 16 PERFORMANCE REPORT 18 01 Auditor-General’s Report: Predetermined Objectives 19 02 Overview 19 03 Operational Highlights 21 04 Operational Challenges 24 05 Operational Outlook 25 06 Information and Communications Technology (ICT) 26 07 Situational Analysis 28 08 Service Delivery Environment 29 09 Organisational Environment 29 10 Key Policy Developments and Legislative Changes 30 11 Performance Information 31 12 Linking Performance with Budget 65 GOVERNANCE 66 01 Introduction 67 02 Portfolio Committees 68 03 Executive Authority 68 04 Interfront Board 69 05 Board Committees 75 06 Audit and Risk Committee 76 07 Remuneration, Social and Ethics Committee 77 08 Interfront Executive Committee (EXCO) 80 09 Remuneration of Board Members 83 10 Risk Management 84 11 Internal Control Unit 85 12 Ethics 87 13 Health, Safety and Environmental Issues 90 14 Company Secretary 91 15 Social Responsibility 93 16 Audit and Risk Committee 95 17 B-BBEE Compliance Performance Information 100 HUMAN CAPITAL MANAGEMENT 101 01 Introduction 102 02 Highlights 103 03 Challenges 103 04 Priorities 104 05 Outlook 104 06 Performance Management Framework 105 07 Policy Development 105 08 The Employee Value Proposition (EVP) 106 09 Employment and Vacancies 110 10 Staff Turnover 111 11 Transformation and Employment Equity Growth 112 PFMA COMPLIANCE REPORT 114 01 Irregular Expenditure 115 02 Fruitless and Wasteful Expenditure 115 03 Material Losses Through Criminal Conduct 116 04 Late or Non-Payment of Suppliers 116 05 Supply Chain Management 117 06 Contract Variations and Expansions 118 FINANCIAL INFORMATION 119 01 Board’s Responsibility and Approval of the Annual Financial Statements 120 02 Report by the Board of Directors 122 03 Financial Report 125 04 Report of the Auditor-General to Parliament on the International Frontier Technologies SOC Ltd 128 05 Annual Financial Statements 132