50 INTEGRATED ANNUAL REPORT 2022 Assurance Internal audit The internal auditor is guided by the NCT internal audit charter and reports directly to the Audit and Risk committee. The risk-focused internal audit coverage includes NCT Forestry Agricultural Co-operative and all its divisions and subsidiaries. The audit plan was approved by the Audit and Risk committee at the beginning of the annual fiscal period and progress reports of the audit plan was presented at each committee meeting. Internal audit examined the adherence to policy, procedures and processes within departments and sections for each entity. Findings, potential risks and deviations were highlighted to all parties via the executive summary and comments from management were recorded. The following audits were conducted: • Year-end financial controls and audit readiness • Human resources and payroll • Procurement at Richards Bay and Durban mills • Ingwe farm • ISO processes • Ahrens and Glenside holding depots • Vryheid East • Baynesfield farm • Timber payments • Non-timber payments and deduction agreements • Loading operations • Mid-year financial progress • IT department • ShinCel farm • Longridge farm Another function of the internal auditor is to co-ordinate the whistle-blower portfolio. No instances were reported this year. Internal audit was also involved with a committee set up for the investigation on the Commondale/Bazane community protest action.
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