Page 66 - CJ 2019 INTEGRATED REPORT

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Continually monitoring and and improving its environmental performance and and supporting customers’ employees’ partners’ the the community’s and and and other stakeholders’ environmental and and and sustainability initiatives and and progress undertaken by by internal internal audit audit in in in in line with an an internal internal audit audit audit plan plan as as approved by by the the Audit & Risk Committee The audit audit plan plan ensures that all significant areas of the the Company’s activities are are duly covered in in turn over over a a a a a a a a a a a a predetermined time frame The Internal Auditor has unrestricted access to to the the the Company’s records the the the the the Chairman Chairman of of the the the the the Company Company the the the the the Chairman Chairman of of of the the the the the Audit & Risk Committee Management and employees for for the the effective performance of of his duties Following the completion of internal internal audit audit engagements salient internal internal audit audit observations are reported to Management in in in in in a a a a a a a a a a a a closing meeting followed by the the the issue of the the the internal internal audit audit reports reports The Internal Auditor presents his internal internal audit audit reports reports to to to the the the the Audit Audit & Risk Committee Committee meetings to to to apprise the the Committee Committee of significant audit findings as as well as as Management’s proposed action plans The Chief Internal Auditor also regularly conducts follow-up audits to to to monitor the the progress on on on on on the the implementation of internal audit audit recommendations by Management and reports back to to to the the Audit Audit & Risk Committee thereon for monitoring purposes The Chief Internal Auditor works closely with with and shares his internal audit audit findings with with the external auditors The services of the the internal auditor are also solicited to to carry out special reviews or or or investigations at at the the the request of of the the Chairman Audit & Risk Committee or or or Board of of Directors The Company’s Company’s internal internal audit audit team also provides internal internal audit audit services to the Company’s Company’s subsidiaries External Audit One of of the the the principal responsibilities of of the the the Audit & Risk Committee is is to to review and and report to to the the the the the Board on on the the the the the clarity and and accuracy of the the the the the Group’s financial statements When conducting their reviews the the the the the Committee considered the the following:
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the accounting policies and practices applied
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material accounting judgements and assumptions made by by management or or or significant issues or or or audit risks identified by by the external Auditor and •
compliance with relevant accounting standards and and other regulatory financial reporting requirements including the the Code of Corporate Governance All significant issues raised by the the the the external auditors during the the the the the audit audit are discussed at the the the the the level of the the the the the Audit & & Risk Risk Committee Committee and the the the the response from Management are are followed up regularly at Audit & & Risk Risk Committee Committee Meetings until they are are fully addressed PricewaterhouseCoopers has been providing external audit services to the Company for more than 9 years CORPORATE GOVERNANCE REPORT
The Company follows the the Global Reporting Reporting Initiative (GRI) framework for Sustainability Sustainability Reporting Reporting and the the the full Sustainability Sustainability Report Report is is published on the the Currimjee Limited http://www currimjee com Corporate Social Responsibility
The operating companies of of the the the the Currimjee Currimjee Group channel their CSR contributions (or a a a a a a a a a part thereof) to the the the the the the Currimjee Currimjee Foundation Foundation the the the the the vehicle which manages and supervises the the the the the Group’s CSR projects The Foundation Foundation focuses on on on on on on on long- term actions in the fields of education health environment leisure/sports and and socio-economic developments It allows a a a a a a a a structured and and professional approach to to to the the deployment of of of the the Group’s commitment to to to social concerns to to to which it it has been profoundly attached for decades Details of the the major projects undertaken by the the Currimjee Currimjee Foundation are available for consultation on on on on the Currimjee Currimjee Limited http://www currimjee com Donations
During the year year ended 31 December 2019 donations amounting to Rs Rs 767 554 (year 2018: Rs Rs 1 1 1 1 1 1 118 000) were made by the Company Year 2019 (Rs’ 000) Nil 768 TOTAL 768 PRINCIPLE 7 - AUDIT Internal Audit Year 2018 (Rs’ 000) Nil 1 1 1 118 1 1 1 118 Political donations Non-political / charitable donations The The Company has an an internal internal audit audit function headed by the Chief Internal Auditor The The internal internal audit audit department is adequately staffed with qualified personnel and certified internal internal auditors The internal internal audit audit department operates in in in in line with an an an Internal Audit Charter and adopts a a a a a a a a a a a a a a a risk-based methodology that that enables it it to provide assurance on on controls that that address high-risk areas The Chief Internal Auditor reports independently to to the the the the Chairman Chairman of of the the the the Audit Audit & Risk Committee and the the the the Chairman Chairman of of the the the the the Board on on all internal audit issues He is is is is responsible for providing assurance to the the the Audit & Risk Committee regarding the the the implementation operation and effectiveness of the the the Company’s internal control systems In this respect reliance is is placed on on the the work CURRIMJEE JEEWANJEE AND COMPANY LIMITED