COMPANIES TRIBUNAL 2014/15 Annual Report and 2015/16 -1st Quarter Performance Report

1. COMPANIES TRIBUNAL 2014/15 Annual Report and 2015/16 -1st Quarter Performance Report Presented by: Adv S. Lebala SC

2. Companies Tribunal Delegation to Parliament for the presentation to the Portfolio Committee on 14 October 2015: • Advocate S. Lebala,SC (Chairperson: Companies Tribunal) • Ms Agnes Tsele-Maseloanyane (Full-Time Member) • Mrs Irene Mathatho (Chief Financial Officer) • MsTebogoMputle (Registry Manager)

3. MANDATE CONTRIBUTION TO IPAP/ NDP

4. KEY HIGHLIGHTS 2014/15 ANNUAL REPORT • 90% of cases decided within 30 days from date of allocation compared with 69% in 2013/14 • IN 2013/14 ADR there was 1 ADR case received the number has grown in 2014/15 • Increase in the number of cases handled year on year in The past 3 years: 191; 296 and 326 • Only 1 decision taken for review since inception • Unqualified audit opinion in 3 consecutive years • AGSA’s dashboard report shows improvement in the Tribunal’s AoPI performance • Reduction in irregular expenditure • 100% compliance with Cost Curtailment National Treasury Instruction • Appointment of internal auditors PWC • increase in the number of part time Tribunal Members • 53% increase in the number of personnel compared to previous financial year INCLUDING appointment of CFO • Appointed an intern Supply Chain Management- Part of Skilling the Youth.

7. NATURE OF CASES HANDLED • Access to records • ADR • Change to financial year-end • Company restoration • Compliance notice • Director’s dispute • Extension of time to prepared AFS • Extension of time to convene the AGM • Holding of and AGM • Name disputes • Outstanding information • Review of CIPC decision • SECs (s 72)(5) • S 2(3) exemption • S 6(2) exemption • Substituted service • Variation of an order.

8. The STOTAL NUMBER OF SEC APPLICATIONS PER SECTORp sectors

9. RESOURCES • Human Resources • Approved Establishment: 28 posts • Funded posts over 3 years: 15 posts • Filled positions: 13 permanent • Intern: 1 (SCM) • Vacant: 2

10. BUDGET SPEND PER PROGRAMME 2014/15

11. PROGRESS ON ISSUES RAISED BY THE PORTFOLIO COMMITTEE LAST MEETING • PWC was appointed August 2014 as CT’s internal auditors for 1 year. • PWC developed a rolling three- year strategic internal audit plan for the year ending 31 March 2018 and a one year operational plan for the year ending 31 March 2016. • New Auditors, Business Innovation Group, have been appointed for a period of 3years. • IA reviewed the following areas as part of the 2014/15 internal audit plan • Supply Chain Management audit • Petty Cash • Information Technology Audit • Human Resource Audit • Risk Management Process reviewed • Annual Performance Plan reviewed • Audit of performance information • Performance Audit • IT Governance review Audit • Annual Financial Statement review • A follow up review of the areas mentioned above

12. PROGRESS ON ISSUES RAISED BY THE PORTFOLIO COMMITTEE LAST MEETING Standard policies or procedures relevant to CT against existence or non- existence of such policies or procedures in CT. In particular the following areas were considered: o Planning and Budgeting o Expenditure Management o Procurement Management o Assets Liability Management o Banking, Cash Management and investment o Accounting and reporting requirements o Corporate governance and related matters o Corporate Services o Unauthorised, irregular and fruitless and wasteful expenditure.

13. PROGRESS ON ISSUES RAISED BY THE PORTFOLIO COMMITTEE LAST MEETING • Audit and Risk Committee (ARC) reviewed and monitored all the areas audited by internal audit as well as areas relating to the review performed by Grant Thornton pertaining to Tribunal members claim covering the period February 2012 to July 2013. • Management developed action plans to address the findings raised by internal auditors and control weakness identified in the Grant Thornton report. • 52% of internal audit findings addressed and 73% of Grant Thornton control weakness addressed. • Reports on the plans and progress made in respect auditors’ findings and the Grant Thornton were presented to ARC on a quarterly basis.

14. PROGRESS ON ISSUES RAISED BY THE PORTFOLIO COMMITTEE LAST MEETING • Progress reports in relation to addressing the control weakness identified by Grant Thornton are also presented to the dtiby the ARC Chairperson on a quarterly basis. • The 2015/16 internal audit plan is designed to incorporate the review of the controls relating to the Grant Thornton report. • In the 2014/15 Annual Report of the CT, the Internal Auditors provided assurance that internal controls in place are functioning effectively and efficiently as well as highlighted areas where mitigating controls should be implemented.

15. PROGRESS ON ISSUES RAISED BY THE AUDITOR GENERAL

16. PROGRESS ON ISSUES RAISED BY THE AUDITOR GENERAL

17. PROGRESS ON ISSUES RAISED BY THE AUDITOR GENERAL

18. COMPANIES TRIBUNAL 2015/16 1st quarter Performance Report

19. APP PROJECTS/ ACTIVITIES FOR 2015/16 Piloting of Electronic Case management system Achieving set target of issuing of decisions Achieving set targets in the finalisation of disputes Research Advocacy service Sound Financial Management.

20. 1ST QUARTER ACHIEVEMENTS • Issued 85% of decisions within 30 days from date of allocation • Finalised 75% of ADR cases received • Research report on Tribunal’s benchmark of jurisdictions with similar mandate • Media coverage: an article published in business day newspaper • Outreach: Sedibeng and Wattville • Developed Service Delivery Improvement Plan (SDIP) and Service Charter • Introduced an ethics hotline- managed by Deloitte • Compiled electronic quarterly bulletin and published in first month quarter 2.

21. STRATEGY TO OVERCOME AREAS OF UNDERPERFORMANCE

22. RESOURCES • Human Resources • Approved Establishment: 28 posts • Funded posts over 3 years: 16 • Filled: 15 • Intern: 1 • Vacant:1

23. Q1 FINANCIAL PERFORMANCE

24. CHALLENGES

25. Thank you!