INTEGRATED ANNUAL
REPORT PROFILE
REPORTING CYCLE AND APPROACH
This integrated annual report provides a concise and balanced account of our performance from 1 April 2020 to 31 March 2021 against the commitments outlined in the 2020-23 Strategic plan and budget. The report includes the audited financial statements and the reports of the remuneration and audit committees.
REPORTING PRINCIPLES, POLICIES AND PRACTICE
The ‘core’ option of the Global Reporting Initiative (GRI) guidelines for sustainability reporting and the International Integrated Reporting
and format of this report.
Therefore, this report meets the information and reporting requirements of both the
EXTERNAL ASSURANCE ON THIS REPORT
We adhere to the principles of good governance. Our combined assurance model defines the various role players that provide assurance to the AGSA, which include management, internal specialists, actuaries, internal audit, external audit and the audit committee.
AGSA Strategy
This integrated annual report provides a concise and balanced account of our performance from 1 April 2020 to 31 March 2021 against the commitments outlined in the 2020-23 Strategic plan and budget. The report includes the audited financial statements and the reports of the remuneration and audit committees.
Our integrated approach to reporting is a result of applying integrated thinking to defining the imperatives for creating long-term, sustainable value for our stakeholders.
Our four strategic goals
Our commitments to Parliament are structured around our 4V strategy’s four strategic goals:
V1
VALUE-ADDED AUDITING
V2
VISIBILITY FOR IMPACT
V3
VIABILITY
V4
VISION AND VALUES DRIVEN
CONDITIONS UNDER WHICH WE OPERATE
Our strategy is informed by the major aspects of our environment and their potential to affect the delivery of our mandate. These aspects were:
- Covid-19 pandemic disruption
- Increasingly complex audit environment
- Decline in the country’s economic outlook and its financial impact on us
- Increased risk of cyberattacks and new technologies
VALUE CREATION
HOW WE ADD VALUE TO STAKEHOLDERS
We add value to:
THE PEOPLE OF
SOUTH AFRICA
THE LEGISLATURES
THE EXECUTIVE
(AUDITEES)
THE AUDITING
AND
ACCOUNTANCY
PROFESSIONS
OUR EMPLOYEES AND FUTURE EMPLOYEES
BUSINESS
MODEL
Our business model is geared towards generating value. We use inputs (capitals) and transform them using business processes (activities) to produce outputs (outcomes) that, over the short, medium and long term create value for the organisation, its stakeholders, society and the environment.
OUR
BUSINESS
CAPITALS
The term ‘capital’ used in the integrated reporting framework refers broadly to any store of value that we use to deliver our mandate. We depend on the various forms of capital for our
success. Their availability, quality and affordability can affect our long-term viability and, therefore, our ability to create value.
