Interfront 2024 Annual Report

A B C D E Table of Contents PART A GENERAL INFORMATION 2 Corporate Information 3 Foreword by the Chairperson 4 Overview by the Acting Managing Director 6 Statement of Responsibility and Confirmation of Accuracy 9 Strategic Overview 10 Legislative and other Mandates 15 Organisational Structure 15 PART B PERFORMANCE REPORT 17 Auditor-General’s Report: Predetermined Objectives 18 Overview 18 Operational Highlights 20 Operational Challenges 21 Operational Outlook 21 Information and Communications Technology (ICT) 22 Situational Analysis 23 Performance Information 26 Linking Performance with Budget 40 PART C GOVERNANCE 41 Introduction 42 Portfolio Committees 43 Executive Authority 43 Interfront Board 44 Board Committees 48 Remuneration of Board Members 51 Risk Management 52 Internal Control Unit 53 Ethics 56 Health, Safety and Environmental Issues 58 Company Secretary 58 Social Responsibility 59 Audit Committee Report 59 B-BBEE Compliance Performance Information 64 PART D HUMAN CAPITAL MANAGEMENT 65 Overview 66 Human Capital Priorities for the Year 67 Workforce Planning 68 Performance Management Framework 69 Employee Wellness Programme 69 Policy Development 69 Achievements 70 Challenges 71 Future HR Plans and Goals 71 The Employee Value Proposition (EVP) 72 Employment and Vacancies 80 Reasons for Employee Losses 81 Transformation and Employment Equity Growth 82 PART E FINANCIAL INFORMATION 84 Board’s Responsibility and Approval of the Annual Financial Statements 85 Report by the Board of Directors 87 Financial Report 90 Report of the auditor-general to Parliament on the International Frontier Technologies SOC Ltd 92 Index 100 ANNEXURE 129 ANNEXURE A 130 Unauthorised Expenditure Register 130 ANNEXURE B 130 Irregular Expenditure Register 130 ANNEXURE C 130 Fruitless and Wasteful Expenditure Register 130 ANNEXURE D 131 Information on the Payment of Suppliers’ Invoices 131 ANNEXURE E 131 Procurement by Other Means 131 ANNEXURE F 131 Contract Variations and Expansions 131 List of Abbreviations and Acronyms 132