Interfront Annual Report 2022

PART C: GOVERNANCE 48 In addition to the four Board meetings, the Interfront Board also met with the SARS: Head of Technology and Solutions Delivery, Mr Intikhab Shaik, and Mrs Sarah Blignaut on 1 September 2021. The meeting dealt with, inter alia, the alignment of Interfront’s Annual Performance Plan with SARS internal planning, pricing, and the commercial strategy for Interfront going forward. At the Board meeting on 7 September 2021, the Commissioner of SARS, Prof. Edward Kieswetter, and Mr Intikhab Shaik presented SARS Vision 2024 and the role that Interfront is envisaged to play in it. This information was then shared with Interfront staff by Mr Intikhab Shaik at a follow-up session via Microsoft Teams. 5. BOARD COMMITTEES The Terms of Reference for the Board committees are reviewed and approved by the Interfront Board, except for the joint SARS/Interfront Audit and Risk Committee. The latter’s Terms of Reference are approved by the Shareholder. Where relevant, the Terms of Reference address the purpose and responsibilities, number of meetings, composition, attendance at meetings by permanent invitees or ad-hoc members, voting rights, and other related matters. 5.1 Audit and Risk Committee The Interfront Audit Committee has been combined with the SARS Audit and Risk Committee, as provided for in the Treasury Regulations and the Companies Act. This allows for independent oversight. None of the members of the Audit and Risk Committee are Executive Directors of Interfront and they are, therefore, independent. The Audit and Risk Committee members have the necessary financial literacy, skills and experience to discharge their duties effectively and efficiently. The Internal Audit attends all committee meetings and the AGSA is invited to all meetings and presents their reports on completion of the audit to the committee. Interfront’s financial statements are reviewed by the Audit and Risk Committee. Thereafter, the statements are recommended for Board approval. The Interfront Risk Register and a report on progress regarding mitigating actions are likewise tabled at committee meetings. The Report of the Audit and Risk Committee is set out in section 13 of Part C: Governance in this Annual Report. 5.2 Remuneration, Social and Ethics Committee The Terms of Reference for the Remuneration, Social and Ethics Committee require that no fewer than three members be appointed and the committee shall have at least two meetings each financial year. The Committee comprises the following members: Ms Yolandé van der Merwe as Chairperson, and Ms Vonani Calphornia Ntlhabyane and Mr Mustaq Enus-Brey as members. The Executive Directors and the Executive: Talent are permanent invitees. 4. INTERFRONT BOARD (CONT.)