Interfront Annual Report 2022

INTERFRONT ANNUAL REPORT 2022 3 ABOUT THIS REPORT Materiality To ensure that this report is accurate, relevant and consistent, the reporting process is informed by the key material issues impacting on or impacted by our business. The responsibility for determining such materiality is ultimately that of the Interfront Board. The process is informed by: • Comprehensive collaboration and input involving Interfront’s internal and external stakeholders • Business and operational priorities • Key strategic focus areas • Detailed and ongoing assessment of risks Assurance Assurance regarding the contents of this report is achieved through an internal assurance process. Interfront’s Board and Executive Committee (EXCO) provides assurance that they have implemented, monitored and managed all relevant controls, compliance, governance and reporting requirements. This ensures the reliability and integrity of the information presented in this report. External assurance of our Annual Financial Statements, as well as the reporting against predetermined objectives, is provided by the Auditor-General of South Africa (AGSA) and the audit report can be found in Part E: Financial Information. Reporting structure and frameworks Every effort has been made to align with the integrated reporting requirements of the King IV Report on Corporate Governance. As Interfront is a Schedule 3A state-owned entity, the report is also aligned with the requirements of the Public Finance Management Act, No. 1 of 1999 (PMFA), the Companies Act, No. 71 of 2008, and the National Treasury Regulations.