Internal control

The Implats Board has overall responsibility to ensure that the internal control frameworks established are adequately designed to provide reasonable assurance over the company’s governance, risk management and control processes. These were put in place to ensure that key business objectives are achieved. Key controls which include inter alia financial and operational controls are implemented to mitigate against key risks identified by management to ensure Implats assets are safeguarded and that liabilities and working capital are effectively managed.

Appropriate organisation policies, procedures, standards and guidelines are established; support by structures and delegation frameworks set to provide acceptable levels of management, control, accountability and responsibility.  External and internal assurance providers independently review theadequacy of the design and the operatingeffectiveness of the management controls.