About this report
REPORT BOUNDARY AND AUDIENCE
This integrated report reviews Tiger Brands’ business model and strategy, the risks and opportunities in our operating environment, and our operational and governance performance for the financial year ended 30 September 2019. This is our primary annual report, written for investors and any other stakeholder who has an interest in our ability to create value over the short, medium and long term. This report should be read in conjunction with the supplementary sustainable development report and our annual financial statements, published on our website, www.tigerbrands.com.
REPORTING FRAMEWORKS
Our reporting process has been guided by the principles
and requirements contained in the International Financial
Reporting Standards (IFRS), the International Integrated
Reporting Council’s (IIRC) International
MATERIALITY AND SCOPE
This report provides information aimed at assisting readers to make an informed assessment of Tiger Brands’ capacity to create value over time. To enable this assessment, we believe that all of the following information is material: who we are and what we do; how we create value; our interaction with the six capitals; our external environment; the interests of our key stakeholders; the top 10 risks that have a significant impact on value; and our strategy, performance and governance practices. Additional information not material to this report, but of interest for other purposes, is provided in other reports on our website. In assessing those issues that materially impact value creation we have looked beyond the conventional financial reporting boundary to provide for the relevant interests of key stakeholders; we have also considered the most significant risks, opportunities and impacts associated with our activities over the short term (less than 12 months), medium term (one to three years) and long term (beyond three years).
COMBINED ASSURANCE
We have adopted a combined assurance model comprising assurance obtained from management and from internal and external assurance providers:
- Ernst & Young Inc. audited our consolidated annual financial statements; from which extracts have been included in this integrated report. The auditor’s audit report does not necessarily report on all the information included in this integrated report.
- EmpowerLogic Proprietary Limited provided external verification of our BBBEE activities.
- The group’s internal audit team, overseen by the audit committee, provides annual assurance to the board on the execution of the combined assurance plan.
BOARD APPROVAL
As a board, we have applied our collective mind to the preparation and presentation of the information in this report. We believe that the report addresses all material matters and that it presents a balanced and fair account of Tiger Brands’ performance for the financial year ended 30 September 2019, as well as an accurate reflection of our strategic commitments. On the advice of the audit committee, the board approved the integrated report and the consolidated annual financial statements on 21 November 2019.
| Khotso Mokhele | Emma Mashilwane |
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