Integrated_Annual_Report_2026 - Flipbook - Page 83
INTRODUCTION
SASOL AT A
GLANCE
DRIVING SUSTAINABLE
VALUE CREATION
EXECUTING
STRATEGY
DELIVERING
BUSINESS VALUE
SUMMARISED FINANCIAL
PERFORMANCE
CORPORATE
GOVERNANCE
SUSTAINABILITY
REPORT
REMUNERATION
REPORT
ASSURANCE /
ADMINISTRATION
BOARD COMMITTEES
Audit
Committee
AC
CHAIRMAN
GMB Kennealy
Committee governance and
how our Committees create
and protect value
The Board is supported by its five
formal Committees, namely the
Audit, Nomination and Governance,
Remuneration, Safety, Social and
Ethics and Capital Investment
Committee. Each of which operates
under formal terms of reference
approved by the Board and reviewed
periodically. Committee chairmen
report to the Board after each
meeting, ensuring that matters
within the ambit of each Committee’s
responsibilities are integrated into
the Board’s overall deliberations.
The Board has purposefully
assumed direct responsibility for
the governance of risk and does
not delegate this responsibility to a
separate Board Committee. Rather,
risk oversight is considered by the
Board as a whole, with each Board
Committee monitoring the risks
within the ambit of its responsibilities
and escalating material issues to the
Board as appropriate.
The Committee plays a critical role in supporting the Board in safeguarding the integrity of reporting,
strengthening the control environment and enhancing confidence in the Group’s governance and financial
disclosures.
MEETINGS
MEMBERS
DGP Eyton – Stepped down as a member on 1 June 2026.
Mr Eyton is a permanent invitee, as Chairman of the SSEC, to enhance
coordination and oversight in a non-member capacity.
R Gasant – Appointed as a member on 1 June 2026
KC Harper – Resigned on 16 February 2026
NX Maluleke – Appointed as a member on 22 August 2025
S Subramoney
5
ATTENDANCE
100%
MANDATE
• Assists the Board in overseeing the integrity, transparency
and quality of financial and integrated reporting and external
disclosures
• Oversees the independence, performance and
effectiveness of the external audit, including recommending
the appointment of external auditors and approval of audit
scope and fees
• Oversees the effectiveness of the internal audit function
and the combined assurance model, ensuring coordinated
assurance over key risks and controls
• Monitors the effectiveness of the Group’s internal control
environment, including internal control over financial
reporting and the adequacy of remediation actions
• Oversees financial risk management, key financial
judgements and disclosures, including solvency, liquidity
and financial sustainability considerations
• Oversees compliance with legal and regulatory
requirements relevant to financial reporting, including
processes for managing whistleblowing and reporting
concerns
• Ensures appropriate assurance over material sustainability
information and its alignment with financial and integrated
reporting
• Oversees information management, data governance
and cyber related risks, to the extent relevant to financial
reporting, disclosures and the control environment
IN FY26, KEY AREAS OF FOCUS INCLUDED
• Financial performance and outlook remained under
close review, with emphasis on cash flow resilience,
working capital optimisation and delivery against CMD
commitments
• Ongoing focus on solvency, liquidity and debt
management, including refinancing strategies, bond
issuance, hedging mandates and covenant risks under
stress scenarios
• Continued oversight of internal control effectiveness,
with targeted remediation of material weaknesses and
strengthening of financial reporting processes
• Progress on Information Management and cyber resilience,
including leadership capability and system improvements
• Enhanced focus on combined assurance, with the need to
improve forward-looking assurance and prioritisation
of deep dives on key risks
• Consideration of significant accounting matters,
impairments and regulatory developments
• Risk mitigation via hedging activity support and approval
• The Board confirms that the Audit Committee has
executed the responsibilities set out in paragraph 5.7(h)
of the JSE Listings Requirements.
The Committee contributes to value creation by safeguarding the integrity of financial and non-financial reporting,
strengthening the control environment and enhancing stakeholder confidence in the Group’s performance and disclosures.
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For a more detailed overview refer to the Committee report that is included in the annual financial statements available at www.sasol.com.
SASOL INTEGRATED REPORT 2026
82
