The function and responsibility of Risk and Compliance within Exco is to provide best practice, technology systems and culture to manage major risks that the SHR Organisation may be exposed to, including legal and regulatory compliance. The Board, through its Audit and Risk Committee, has ultimate oversight of risk management practices and is responsible for setting acceptable levels of appetite and tolerance for risk, and for determining the response to the major risks faced by the organisation. Key focus areas during the 2023/2024 financial year included: • Development of a risk register, including mitigation and development of appropriate controls for the management of risk • Development of a compliance register Focus areas for the 2024/2025 financial year will include: • Development and implementation of a Risk Policy • Development and implementation of a Risk Management Framework • Development and implementation of a Fraud and Corruption Policy • Improvement of the flow and availability of risk information, including constant monitoring of the register • Implementation of top-down and bottom-up risk assessments Comes from an ancient San word meaning Land of Great Thirst, a reference to the arid landscape and harsh climate. Photograph by: Peter Brooks 38 SANParks Honorary Rangers 2024 APPROACH TO RISK AND COMPLIANCE Material matters continued
RkJQdWJsaXNoZXIy NTI0MzQ=