Interfront 2025 Annual Report

INTERFRONT ANNUAL REPORT 2025 02 Portfolio Committees TheStandingCommitteeonPublicAccounts (SCOPA)within the National Assembly scrutinises financial statements and the audit reports prepared by external auditors. The Portfolio Committee is responsible for monitoring the service delivery performance of public entities by reviewing the non-financial information presented in their annual reports, with a focus on service delivery outcomes and the promotion of economic growth. As a wholly owned subsidiary of SARS, Interfront’s strategic planning, budgeting, risk management, and reporting are seamlessly integrated into those of SARS, forming part of SARS’ broader public accountability processes. 03 Executive Authority The Executive Authority’s oversight role is guided by the provisions of the Public Finance Management Act (PFMA), which grants the authority the power to exercise effective oversight. In addition, the Executive Authority holds the responsibility to appoint and dismiss the Board, ensuring a balanced composition of executive and non-executive directors with the necessary skills to lead Interfront efficiently. At the time of Interfront’s incorporation, the Minister of Finance appointed the initial Board. Subsequent appointments, renewals, and replacements of Board members have been approved by the Commissioner of SARS, acting in the capacity of Shareholder, in accordance with section 68(1) of the Companies Act and Interfront’s Memorandum of Incorporation (MOI). 68