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Tiger Brands Limited Integrated Annual Report
2014
Governance and risk
In respect of the coordination of assurance
activities, the committee reviewed the plans
and work outputs of the external and internal
auditors and concluded that these were
adequate to address all significant financial
risks facing the business.
Chief Financial Officer’s expertise
and experience
The committee also considered the expertise,
resources and experience of the Chief
Financial Officer, Ms Funke Ighodaro, and
concluded that these were appropriate. Her
biographical details appear under leadership
on page 21.
Company Secretary
In addition, in terms of section 3.84 of the JSE
Listings Requirements, it has been determined
that the Company Secretary, IWM Isdale, has
the competence, qualifications and experience
to hold the position of Company Secretary. Ian
Isdale has a BA LLB (UKZN) degree and, in
addition, holds an EDP (Wits). He was formerly
an admitted advocate and legal practitioner in
Zimbabwe and is the immediate past president
of the Corporate Lawyers Association of South
Africa. Mr Isdale has been Company Secretary
and legal adviser to Tiger Brands since
May 1994. He is not a director of the
company. The committee and the board
are satisfied that he provides guidance and
assistance to the company in his capacity as
Company Secretary, on an objective, arm’s
length basis, notwithstanding the fact that he is
a full-time employee and holds the position of
group legal adviser (in which position he also
provides objective advice). The committee and
the board have reached this conclusion as a
consequence of their long-standing working
relationship with the Company Secretary.
This was confirmed in the evaluation of his
performance which was included as part of
the recently conducted external evaluation
of the board. The board evaluation is further
dealt with in the remuneration report on
pages 104 to 105.
Annual financial statements
Following the review by the audit committee of
the annual financial statements of Tiger Brands
Limited for the year ended 30 September
2014, the committee is of the view that, in all
material respects, they comply with the relevant
provisions of the Companies Act and IFRS and
fairly present the consolidated and separate
financial position of the company at that date
and the results of its operations and cash flows
for the year then ended. The committee has also
satisfied itself of the integrity of the remainder of
this Integrated Annual Report 2014.
Having achieved its objectives, the audit
committee has recommended the annual
financial statements and Integrated Annual
Report for the year ended 30 September 2014
for approval to the board. The board has
subsequently approved the annual financial
statements and the Integrated Annual Report
2014, which will be open for discussion at the
upcoming annual general meeting.
Richard Dunne
Chairman of the audit committee
18 November 2014