Particular effort has been directed towards enhancing the organisation’s combined assurance framework, which is designed to ensure synergies between all the assurance providers of our organisation.

IGIA activities have been conducted in an independent and objective manner, supported by direct reporting to the Audit and Risk Committee on a quarterly basis, free and unfettered access to Implats’ documentation and quarterly meetings with the chief executive officer and chairman of the Board of Implats.  The head of internal audit is a permanent invitee to the Executive Committee.  The department is sufficiently skilled, positioned and poised to make a meaningful contribution to effective governance in the Group.

A control self-assessment process, facilitated by internal audit, has recently been established with the appropriate levels of support from management, senior management and the Board,  The process is being rolled out throughout the organisation as part of the combined assurance framework.  The outputs of this process will facilitate internal audit providing King III requirements for a written assessment of the effectiveness of the internal control and risk management.  The control self-assessment will provide input to the written assessment of the financial control to be provided by the Audit Committee to the Board of Implats.

To ensure internal audit continues to provide a service that is in conformance with the definition of Internal Auditing, the International Standards for the Professional Practices of Internal Auditing and the Code of Ethics, the quality assurance and improvement programme covers all aspects of the internal audit activity.  The programme includes both internal and external evaluations which assess the effectiveness and efficiency of the internal audit activity and identifies opportunities for improvement.