It is now universally accepted that corporate governance is a corner-stone practice within all spheres of the socio-economic arena. The investor populace will pay a premium for the assurance of proper governance. Whether it is building a prestigious freeway or a modest gravel road, proper governance is an imperative. This has been proven time and again at The South African National Roads Agency Limited (SANRAL). With core objectives such as the management of South Africa's primary road network, ensuring best value for money and the preservation of financial market confidence, it is vital that the organization is a credible custodian of taxpayer and investorfunds. Having recognized that good corporate governance practice is crucial, SANRAL has set up a governance framework for its Board of Directors. Enterprise wide risk management translates into the company's Risk Register. An independently operated toll-free fraud hotline and fraud prevention and response plans are strong deterrents to corruption. The sustained demonstration of integrity and interpersonal respect underpin individual and organizational behaviour and form the essence of governance and institutional integrity - these are the values that the SANRAL team strives to develop, nurture and uphold for its stakeholders. For the covering abstract see ITRD E139491.
Abstract