INTRODUCTION

Materiality and Material Matters

We apply the principle of materiality in assessing what information should be included in our integrated report through a structured process.

Identification

through ongoing cross collaboration

Prioritisation

through frequent engagement

Monitoring

through governance structures

We identify the matters that significantly impact, or have the potential to significantly impact, our ability to deliver on our strategy and ensure sustainable value over the short-, medium- or long-term for our stakeholders.

Material events up to the date of approval have been included and should be read in conjunction with our full set of annual financial statements (AFS) for a comprehensive overview of our financial performance. Read more on this LINK (AFS).

Reporting Frameworks, Process and Combined Assurance

Our integrated report is based on the principles contained in:

  • The Integrated Reporting Framework
  • Legal and regulatory requirements, such as the Companies Act, 2008
  • The King IV™ Report on Corporate Governance™ for South Africa, 2016 (King IV™)
Internal Controls and Assurance

SANBS has adopted a combined assurance model that is risk-based and that covers strategy level risks and related material matters.

Accountability is clear within the lines of defence model, with assurance providers working together to provide coordinated assurance. It applies as follows to the assurance over the IR:

  • To support the integrity and transparency underlying integrated reporting, the combined assurance (CA) model incorporates independent assurance by Internal Audit of non-financial metrics in addition to assurance on the integrity of the Annual Financial Statements
  • The external auditors undertake audits of the Annual Financial Statements
Process to produce our integrated report
  • The report preparation and presentation process is governed by our Board and led by the Executive Committee, with active participation by their direct reports. The Executive Committee meets weekly to discuss, review and provide input to produce the integrated report
  • Our 2023 integrated report is prepared from internal management reports, including our dashboard balanced scorecard reporting, minutes of Board and Executive Committee meetings and workshops
  • Once report drafts are reviewed and approved by the Executive Committee, these are tabled at the Audit Committee and finally approved by the Board
Integrated Thinking
  • Integrated thinking helps us to expand the boundaries of our mindset, see ourselves as part of a larger system and consider the wider impact of our decisions, beyond short-term financial rewards
  • SANBS embraces integrated thinking and with the enduring effects of the Covid-19 pandemic for a substantial part of the year under review, it is through our strong stakeholder relations, robust risk mitigation processes, strong governance, how we care for our employees, patients, donors and all stakeholders, ongoing effective, transparent communication and embracing opportunities for innovation, that we ensured that our business has remained resilient

Forward-Looking Statements

This report contains certain forward-looking statements with respect to SANBS’ financial position, results, operations and businesses. These statements and forecasts involve risk and uncertainty as they relate to events and depend on circumstances that occur in the future.

Outlook

Outlook information comprises challenges, opportunities and disruptive factors we have identified that have the potential to affect the achievement of our strategic objectives and our mitigating response as well as opportunities identified. Outlook information can be found throughout this report.

Board Responsibility and Approval

The Board of Directors, supported by the Audit Committee, is responsible for ensuring the integrity of the integrated report. In this regard, the Board places reliance on information provided and verified by the Chief Executive Officer and his Executive team. SNG Grant Thornton who undertakes SANBS’ internal audits has done assurance work on a sample of material Key Performance Indicators (KPIs). No external assurance has been obtained on the content of this report other than the external audit procedures performed regarding the AFS and thus financial numbers, to the extent to which they are included in the integrated report, are validated.

We have taken reasonable steps to ensure processes are in place that ensure the integrity and credibility of the integrated report. In particular:

Systems, Procedures and Controls

The systems, procedures and controls include structures and processes that ensure diversity of input and checks and balances, including the system of internal controls, and the use of credible sources for information, and are considered adequate and effective to ensure the completeness and accuracy of information.

Allocation of Responsibility

There is an appropriate allocation of responsibility to ensure that the information reported on is based on the inputs, collation and review of subject matter experts, and the responsible Executives, with the Audit Committee having oversight over the process under the guidance and leadership of the CEO and CFO.

Oversight and Involvement

There has been adequate oversight and involvement of the governing body, and in particular, in respect of the approval of the preparation process, materiality determination process, setting the parameters for the boundary of the report, and final review and approval of the content by the governing body committee and governing body itself.

The Board, assisted by its committees, is ultimately responsible for overseeing the integrity of our integrated report and verifies that it has applied its collective mind in the preparation and presentation thereof.

The Board confirms that after a comprehensive review, it is satisfied that the content is accurate, complete and a fair reflection of SANBS’ material matters, presented in accordance with the International Reporting Framework. The Board approved the 2023 annual Integrated Report on 10 October 2023. Any material events up to the Board approval of this report are also included.

Signed on behalf of the South African National Blood Service Board


Ansie Ramahlo
CHAIRPERSON, BOARD OF DIRECTORS

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