PRASA Board Committees

The Board has five committees that assist in good governance, allow for detailed consideration of major issues, provide advice on sensitive matters and examine matters that may be referred to them by the Board. Each Committee adopts a Charter which is reviewed annually.

Audit and Risk Management Committee (ARM)

The ARM committee supports the board in discharging its Corporate Governance responsibilities in relation to:

• Accounting policies.
• Finance re porting.
• Internal controls.
• Business ethics and fraud prevention policies.
• Risk management.
• Ensuring integrity of internal audit function.

This Committee further monitors and approves the application of financial resources and determines the level of the budget required to deliver the business plan objectives. The Audit Committee comprises of three independent non executive members, Ms. M. Serobe and Ms. L. Letlape including the Chairman, Mr. V. Twala Chairman, the Chief Executive Officer, Chief Financial Officer, Head of Internal audit and External auditors.

Human Resources and Remuneration Committee

The Human Resources and Remuneration Committee supports the Board in discharging its responsibilities relating to:

• Direct authority for, or consideration and recommendation to the Agency of, matters relating to inter alia general staff policies, remuneration (executive and directors’ fees), bonuses, service contracts and retirement funds.
• Staff well being and sound corporate culture.
• The promotion of an efficient and effective workforce.

The HR Committee is chaired by Ms. B. Gasa and is comprised three non-executive directors - Mr. B. Boshielo Member, Ms. L. Letlape Member and Ms. H. Lupuwana Member.

Finance, Capital and Procurement Committee (FCP)

The Finance, Capital and Procurement Committee (FCP) is chaired by Mr. B. Boshielo with three non-executive directors Ms. B. Gasa, Mr. P. Moiloa and Mr. M. Fakir. The FCP supports the Board in discharging its responsibilities relating to:

• Monitoring the implementation of procurement policies and processes, successful negotiation of price reduction. Fostering Black Economic Empowerment and Small Medium and Micro Enterprises
• Adjudication of all capital investments projects and tenders over R50 million.
• Ensuring adherence to the principles contained in the framework for supply chain management issued by National Treasury.

Safety, Health and Environmental Committee (SHE)

The SHE Committee under the Chairmanship of Ms. M. Serobe supported by two non-executive directors Mr. P. Moiloa and Mr. V. Twala supports the Board in discharging its responsibilities for the safety of commuters, employees and others who work and use the network, as well as for environmental protection. In discharging its responsibilities the Committee:

• Ensures that the Agency has effective safety and environmental policies, systems and programmes to meet all legislative responsibilities and develop and sustain a safety and environment.
• The SHE Committee is responsible for ensuring that the commuter rail environment is safe, healthy and clean for both employees and the users of the system.

Governance and Performance Committee (Governance)

The Governance Committee comprises of five non-executive members Mr. B. Boshielo, Ms. B. Gasa, Ms. M. Serobe, Mr. V. Twala, Mr. P. Moiloa and chaired by Mr. S. Buthelezi.

• The objective of the Governance Committee is to ensure that the organisation is governed in a way that is efficient, responsible, transparent and accountable to the shareholder and the taxpayer.
• The Public Finance Management Act (PFMA), 1999 (Act No. 1 of 1999), as amended, further imposes fiduciary duties on the Board, including a duty of care and skill in managing the financial affairs of the Agency.
• The Board is also obliged to maintain effective and transparent systems of internal controls, including internal audit.
• To ensure that Institutional arrangement within the Group is well understood and unambiguous for the effective discharge of the Corporation’s mandate as contained in the Legal Succession Act, read with the PFMA.
• To oversee and ensure performance of the Corporation in line with the approved Business Plan and Performance Agreement between the Corporation and the Executive Authority.
• Monitoring compliance to IT Governance.