Blue Label Telecoms Integrated Annual Report 2019

80 Blue Label integrated annual report 2019 Board composition, structure and report back continued SUBCOMMITTEE STRUCTURE AND REPORT BACK The Board remains accountable for all matters where it has delegated responsibility to its subcommittees. The committees, their members and principal functions and focus areas are set out below: Executive Committee Members MS Levy (Chairman) I Zwarenstein BM Levy G Jones DA Suntup G McKintosh SN Milne A Greenblatt J Smith A Kodesh EC de Villiers DB Rivkind L Pogir D Hilewitz J van Eden Key objective and terms of reference The Group Executive Committee has recently been augmented beyond the Executive Directors by the inclusion of operational and functional management to provide a forum for dissemination of strategies and policies to operating subsidiary levels and provide oversight and feedback from operations on strategic matters in a combined forum. Group-wide strategic and policy decisions are typically formulated by the Executive Directors and approved by the Board. Certain Group Executive Committee members are represented on boards of operating subsidiaries and act as liaisons with operating subsidiary CEOs and/or management. The Executive Committee has concluded that it has fulfilled its responsibilities in accordance with its terms of reference. 2019 focus areas and activities In addition to discharging its obligations in its terms of reference, during the year under review the Executive Committee focused on: u u integration of acquisitions; u u continued focus on efficiencies and economies of scale; u u aggressive informal market expansion; u u building a unified and integrated platform; u u using big data analytics to up-sell and cross-sell; u u actively growing revenue assurance; u u expanding reach, customer service and footprint; and u u overseeing Mexico restructure and monitoring potential investment into the Indian operations. Refer to CEO discussion and operational review for further details. 2020 focus areas Key focus areas of the Executive Committee during the 2020 financial year shall include bedding down recent acquisitions and assimilating acquisition targets into the Group. As an ongoing practice, the Executive Committee is responsible for ensuring that subsidiaries: u u adhere to the strategies and policies of the Group; u u adhere to best management practices and functional standards; u u adhere to legal compliance and internal control; and u u are efficiently and competently managed. Audit, Risk and Compliance Members and attendees Number of meetings JS Mthimunye (Chairman) 4 GD Harlow P Mahanyele*** Member attendance SJ Vilakazi 100% BM Levy* MS Levy* DA Suntup* * Attendee. *** Resigned 23 November 2018. Key objective and terms of reference Provides governance over internal controls, compliance, performance of internal and external audit, appropriateness of accounting and adequacy of external reporting. The Audit, Risk and Compliance Committee concluded that it has fulfilled its responsibilities in accordance with its terms of reference. 2019 focus areas and activities u u Successful integration and accounting treatment of acquisitions. u u Continued implementation of compliance framework for the Group. u u Oversight of accounting change for the adoption of IFRS 9 and 15. u u Bedding down Group control environment with focus on technology and fraud risks. u u Oversight of the resolution of the JSE proactive monitoring panel query on accounting for investments in associate companies.