Interfront 2025 Annual Report

95 GOVERNANCE 16 Audit and Risk Committee Audit and Risk Committee Report The Interfront Audit and Risk Committee is pleased to present its report for the financial year ending 31 March 2025. Audit and Risk Committee Responsibility The Audit and Risk Committee (the Committee) is established as an independent statutory committee in terms of section 51(1)(a) of the Public Finance Management Act (PFMA), Treasury Regulation 27.1 and section 94 of the Companies Act, No. 71 of 2008 (Companies Act) and is satisfied that it has complied with its responsibilities in this regard. The Committee also reports that it has adopted and reviewed formal Terms of Reference as its Audit and Risk Committee Charter and has discharged all its responsibilities as contained therein. Audit and Risk Committee Membership Until 30 September 2024, the Committee had four Independent Members chaired by Ms Doris Dondur. As of 01 October 2024, it has three Independent Members chaired by Mr Barend Petersen. The Committee held five ordinary meetings for the financial year ending 31 March 2025, as per its Terms of Reference. The Committee reviews the effectiveness of internal controls and oversees risk management.”