Sasria is committed to the application of the principles of sound governance and ethical standards in the conduct of our business and affairs.
The Board endorses the King Code and recognises the need to conduct the affairs of the company with integrity and in accordance with generally accepted corporate governance practices.
The Board is committed to the principles of diligence, honesty, integrity, transparency, accountability, responsibility and fairness and accepts full responsibility for the application of these principles to ensure that the principles of good corporate governance are effectively practised throughout the company.
The Board is responsible for ensuring that the company complies with all of its statutory obligations as specified in the Company Memorandum of Incorporation, the Public Finance Management Act, Companies Act, Insurance Act, and all other regulatory requirements.
Sasria has identified the following key governance areas that cover the strategic and operational activities of the company.
Risk Management is conducted through the Chief Risk Officer in the Control Functions Division. This function facilitates strategic and operational risk management across the organisation. The function includes effective and efficient risk identification, mitigation and reporting. In addition, the function also investigates opportunities brought about by risks facing the company.
This is the identification, monitoring and implementation of laws, regulations and other governance prescripts governing the Sasria business.
The Board has established a compliance function with a clear mandate of ensuring that Sasria conducts its business in accordance with the law. This is also aimed at protecting the interests of our stakeholders and the reputation of the company. The compliance function reports functionally to the Risk Committee of the Board and administratively to the Managing Director as the Key Individual of the company.
Sasria is committed to compliance with all applicable laws and as such the compliance function:
- Protects our clients and other stakeholders.
- Fosters good relationships with regulators.
- Enhances the reputation of our business.
- Contributes to good corporate governance.
For more information on compliance please select one of the links below:
- Fraud Alert
- Anonymous Reporting
Internal Audit is an independent function that reports functionally to the Audit Committee and administratively to the Managing Director. The committee focuses on risks that threaten business objectives and ensures the adequacy and effectiveness of Sasria’s systems of financial and risk management, and internal control.
The Corporate Secretarial function advises the Board of their statutory and operational obligations. This function is also responsible for all administrative requirements relating to the Board and its committees. The function further provides guidance to the board in terms of ethics and good governance.