Excellence in reporting acknowledged as Sasfin wins at the 2019 CSSA Integrated Reporting Awards!
A combination of a well-articulated Group strategy together with improved governance and remuneration disclosures ensured that the Sasfin was awarded the Best Integrated Report in the fledgling/AltX category at the 2019 Chartered Secretaries Southern Africa (CSSA) Integrated Reporting Awards.
The Awards, hosted by CSSA in partnership with the JSE, have been rewarding excellence in corporate reporting since 1956. The primary objective of the Awards is to encourage accurate and transparent financial reporting and full disclosure of all relevant information to provide a clearer perspective of their business performance, prospects and impact on stakeholders.
The Awards offer an opportunity for a peer-on-peer comparison and measure of good corporate governance and risk management practices through the valuable feedback provided by experienced judges.
According to Michael Sassoon, Group CEO of Sasfin, the award is testament to the enhanced focus placed on governance processes as part of a broader strengthening of the Group’s control environment.
In Sasfin’s 2019 Integrated Report, Sassoon alludes to numerous investments made in the Group’s control environment, including the bolstering of the Group Risk, Compliance, Internal Audit and Secretarial functions, which together with external audit, provides a holistic risk-based assessment of Sasfin’s governance, risk management and control processes. An additional benefit of this investment was an improved approach to the Group’s integrated and financial reporting.
“Regular and meaningful stakeholder engagement is an imperative at Sasfin. As management, we take guidance from our experienced and diversely skilled Board, led by the Chair.
The Board sets Sasfin’s strong ethical culture and I’d like to thank each of our Directors for their valuable input into the integrated reporting process, as our report went through multiple Board Committee reviews, prior to ultimately being signed off by the Board after being submitted for approval by the Group Audit and Compliance Committee (GACC),” Sassoon adds.
According to Roy Andersen, Chair of the Sasfin Board, and a noted corporate governance doyen who has served as a member of the King Committee since its inception, Sasfin’s approach to integrated thinking is founded on regular Board engagement with Management where strategy is assessed and debated prior to approval.
“As described in the International <IR> Framework, integrated thinking is the active consideration by an organisation of the relationships between its various operating and functional units and the capitals that the organisation uses or affects. As such, integrated thinking leads to integrated decision-making and actions that consider the creation of value over the short, medium and long term for all of Sasfin’s stakeholders, says Andersen.
Andersen adds that apart from Board input, Management’s regular internal employee roadshows include the showcasing of a shared understanding of strategy and how value is created throughout Sasfin. This epitomises integrated thinking, whereby one of the primary stakeholders of the Group, its employees, can better understand the Group strategy and question or interrogate it.
About Sasfin Holdings
Sasfin Holdings Limited is a banking and financial services group committed to enabling growth in the businesses and global wealth of its clients. Sasfin provide a comprehensive range of specialist financial products and services focused on the needs of asset suppliers, small and medium businesses as well as institutional and private investors. We go beyond a bank by working closely with entrepreneurs and investors to better understand their needs and provide appropriate solutions to the challenges they face.
Issued on: 18 November 2019
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