47 INTEGRATED ANNUAL REPORT 2024 Those risks which cannot be avoided or mitigated through management controls are covered by an array of insurance products. Information Technology The ongoing focus on security and infrastructure remains a priority. We have successfully implemented the KnowBe4 cybersecurity awareness training programme. The training covers a range of topics, including password hygiene, phishing scams, data privacy, and social engineering. It is compulsory for all staff that have an NCT eMail account, regardless of their role or level of access to our systems and data. The training is provided via an online platform and includes interactive simulations. The training will help to foster a more collaborative and proactive approach to security, which is critical in today’s threat landscape. The replacement of all network switches at our Durban plant was successfully completed, ensuring optimal functionality and performance within the network infrastructure. Unfortunately, the installation of new network switches at Richards Bay was pending when the fire occurred, and the hardware is currently stored at the head office. All our firewalls have been replaced. Firewalls play a crucial role in protecting our systems and data, and we are committed to investing in the latest technology and best practices to ensure that our firewalls are secure and effective. The IT department plays a significant role in all solar projects, primarily because of its involvement in integrating with generators and UPS hardware that powers the IT infrastructure. While solar installations at Piet Retief and Greytown have been finalised in the past year, there are still minor outstanding issues that are currently being addressed at all our solar sites. Internal Audit The Internal Audit function serves the whole group of NCT as an independent appraisal function for the organisation. The Internal Auditor is guided by the NCT Internal Audit Charter, which outlines the purpose, authority, and responsibility of the Internal Audit Department. The role of the Internal Audit at NCT is set out below Reporting structure of the Internal Audit department Board of Directors Audit and Risk Committee General Manager Functional Reporting Internal Auditor Administrative reporting Internal Audit serves the following stakeholders: Assurance (risk-based): • NCT Board, Audit and Risk Committee, • Management, • Employees, • Other (e.g. NCT members, community, business partners, regulators) How does the Internal Audit add value to these stakeholders? The Internal Audit Function provides assurance to the NCT groups • Governance • Risk management, and • Control processes This is to help NCT achieve strategic, operational, financial, and compliance objectives Internal Audit activities and service offerings: Advisory services: • Forensic, hotline and ethics management • Governance, risk, controls consulting • King IV, governance disclosures Assurance (risk-based): • Financial processes and systems • Business processes and systems (e.g., HR and Payroll) • Operational and strategic risks • Ethics, risk, legal compliance
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