presentation of strategic plan and app to the portfolio ... · presentation of strategic plan and...
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Presentation of Strategic Plan and APP to the Portfolio Committee on Trade and Industry
Benjamin van der Merwe (acting CEO)
17 April 2013
Outline Legislative Mandate, Mission and Values
Organisational Strategic Goals and Objectives
Products and Services
Performance and Organisational Environment
Alignment to Government key priorities (the 12 national outcomes and the dti IPAP)
Strategic Outcome Orientated Goals (Balanced Scorecard)
Divisional strategic outcome-orientated goals
Legislative Mandate NMISA was established under the
Measurement Units and Measurement Standards Act, No
18 of 2006 (The Measurement Act)
To provide for the use of measurement units of the International System of Units (SI) and certain other
measurement units
To provide for the designation of the national measurement units and standards; to provide for
the keeping and maintenance of the national measurement standards and units and to provide
for the establishment and functions of the National Metrology Institute of South Africa (NMISA)
Mission and Values
To provide South African industry, environmental, health and safety sectors with fit-for-purpose measurement standards and measurements. This is achieved by keeping and maintaining the national measurement standards and units to an acceptable international standard and by disseminating traceability to the South African industry
Mission
Measurement excellence
Social responsibility
Economic prosperity
Good Governance
Values
Organisational Goals
Goal 1 •Ensure that South Africa maintains national measurement standards; and demonstrates their
comparability to other national and international standards and measurements
Goal 2 •Build and maintain an internationally recognised national metrology system as the
foundation for the South African measurement system
Goal 3 •Strengthen the metrology system as a key component of the Technical Infrastructure that is
aligned with international best practice.
Goal 4 •Provide essential support to South African enterprises competing in a fast-paced global
economy.
Goal 5 •Provide essential support for public policy objectives with regard to measurement
compliance issues in terms of health, safety and the environment.
Strategic Objectives Keep and maintain the equipment necessary for bringing national measurement standards and certify reference materials into being
Strategic
Objective 1
Upgrade the existing measurement standards, develop new measurement standards and reference materials in line with the requirements of commerce and industry
Strategic
Objective 2
Establish confidence in the accuracy of the national measurement standards by suitable and documented verification processes
Strategic
Objective 3
Disseminate traceability, measurement expertise and services to South African commerce and industry by means of calibration, measurement or analysis, certified reference materials, appropriate technology and skills transfer.
Strategic
Objective 4
Establish and maintain the necessary expertise and competence according to internationally acceptable standards
Strategic
Objective 5
Recapitalise and modernise the NMISA to ensure the NMS supports international trade, health, environmental and safety requirements
Strategic
Objective 6
Participate and represent South Africa regionally and internationally with reference to traceability and measurement issues and maintain close links with the CIPM and associated activities of the Metre Convention
Strategic
Objective 7
Products National Measurement
Standards (NMS)
• NMISA maintains 42 gazetted national measurement standards (NMS)
• These NMS underpin the South African measurement system and facilitate national traceability of measurements to the International System of Units (SI), or to other international agreed references
• During the next 3 years, the number of gazetted NMS is anticipated to increase to 50
Reference Measurements
• NMISA maintains a number of reference measurements in a number of parameters through which the NMS is disseminated
• These methods are verified and validated, and most are underpinned by internationally published Calibration and Measurement Capabilities (CMCs)
• Method development is on-going for expansion of existing scope
Certified Reference Materials (CRMs)
• CRMs are ‘controls’ or standards used during the analysis and/or quality assurance process (mostly calibration of analytical equipment)
• Accredited laboratories performing analysis are required to use CRMs to ensure traceability of their results
• New reference measurements , CRMs will increase by 10 to 15
Services C
alib
rati
on
• Disseminate traceability from NMS to accredited calibration laboratories (highest accuracy, smallest uncertainty)
• NMISA holds accreditation to ISO/IEC 17025 for most of the parameters
• Envisaged growth in parameters (366 to 386)
Cer
tifi
ed
Ref
ere
nce
Mat
eria
ls
• NMISA has built capability to characterise and value assign selected chemical materials and gas mixtures, including purity analysis
• Envisaged growth in CRMs sold (86 to 200)
Ref
ere
nce
mea
sure
me
nts
, te
stin
g an
d a
nal
ysis
• NMISA offers advanced measurement services to industry.
• This includes method development for customers, assistance with problem solving and analysis in support of research projects
Skill
s En
han
cem
en
t
• The expertise residing in the staff of NMISA is an important contribution to the development of a skilled and capable workforce through training in measurement science
• Refer to the Strategic outcome-oriented goals for Human Resources
• Peer-reviewed papers and presentations
Trai
nin
g • Where and when required, NMISA assists especially SANAS and the NLA, with training courses
• Special development projects aim to assist SMMEs have been created and are being rolled out
• NMISA staff is also involved as invited lecturers in graduate and post-graduate academic courses
International and Regional Environment
NMISA plays a key role in the establishment of measurement traceability and the international
equivalence there-of, sitting at the interface between the national and international systems.
The expanding global trade and pressure to eliminate technical barriers to trade (TBTs) creates a constant demand for greater accountability and
demonstrated competence in NMIs
NMISA plays a leading role in the development of metrology infrastructure in Africa, especially
in support of South Africa’s immediate neighbours in SADC. A sound measurement
structure is critical to the successful implementation of regional free trade agreements and elimination of TBTs
Alignment to the 12 national outcomes
•Improve the accuracy and reliability of chemical, physical and bio-measurements
Quality of Life
•IPAP contribution and assistance to SMEs
Manufacturing and Industrial Development
•Trade regulations rely on accurate measurements. Removal of technical barriers to trade (TBTs)
Trade and Commerce
•Ensure safety regulations are met through accurate measurement; traceability to the regulatory domain (law enforcement), speed measurement, breath alcohol calibrations
Safety and Security
•Lighting sources consume about 20% of all electricity generated; Replacement of conventional lamps with LEDs will reduce the consumption to 16%
Energy Saving and Green Industries
•Recent alerts in the EU regulations, stricter minimum residue levels (MRLs), has once again highlighted the vulnerability of African economies incurred due to inadequate analytical testing facilities. South Africa is a signatory to the POPs convention and is thus committed to establishing at least one centralised toxic substances analytical laboratory for higher order measurements
Environmental protection
•Toxic elements and contaminants in food and food packaging to meet EU regulations, establishing capability for measuring nutritional elements and amino acids in infant formula and wheat based products is essential
Food Safety
Contributions to the dti IPAP • Traceability for nano-material
measurements
• Traceability for stress and strain (tribology)
• Traceability for large dimensional measurements, locomotives and coaches
Metal Fabrication & Transport Equipment
• 2nd phase upgrade of electrical power and energy measurements standards
• New NMS for LED lighting
• New NMS for building efficiency (energy saving)
• New PRGMs for Green House Gases
Green and Energy Saving industries
• Commission Coordinate Measuring Machine (CMM) for Automotive Component Manufacturing
• Commission new Acoustics NMS
• Upgrade Force and Torque NMS
Automotives and Components
• Reference measurements for pesticides in rooibos tea, beverages and water
• Traceability for nutritious and toxic elements in grain and wheat
• Traceability for dioxins and related toxicants in fish and feed
Agro- Processing
• Upgrade the NMS required to perform diagnostic network tests on fibre optics and wireless telecommunication systems
• Upgrade optical frequency NMS for SKA
Business Process Services & Cutting edge:
• Nano-metrology facility to address traceable measurements in nano manufacturing (catalysts for petro-chemical, nano-particles for aerosols, semiconductor technology)
• Roadmap for analytical facility with required for hazardous substances in plastics and packaging materials
Plastics, Pharmaceuticals and Chemicals
NMISA 2013
Key strategic focus
Strengthening of Corporate Governance
• Supply Chain Management (tenders and sole suppliers)
• Asset Management
• PPP Project (Appointment of the Project Officer and Transaction Officer
• Risk Management
• Internal Audit
• External Auditor (Quarterly and Annually
• Financial controls and reporting
• Challenges experienced (resignation of CEO, CFO, account and Company Secretary in 2012/13)
Enhancement of Human Capital Development
• Competent and sustainable workforce
• Development of employees
• Pool of talent to address future skills needs
• Enhancement of qualification of current staff
• Recruitment of black professionals
• Undergraduate bursaries, post-graduate studentships and internships
• Pipeline of young black researchers
• Transformation of the organisation
Enhancement of Services
(National Measurement Standards)
• Improvement and/or establishment of comprehensive capabilities to provide support and measurement traceability for: chemical analyses, manufacturing, automotive, food safety, environmental monitoring, health care, the mining industry, regulatory domain and agriculture
• Dissemination through calibration measurement standards, certified reference materials, proficiency testing schemes and higher-order reference measurements
• A special programme to assist SMMEs
NMISA 2013
Strategic Outcome-Orientated Goals
The NMISA has adopted the balanced scorecard approach to set and measure performance targets. The NMISA Scorecard is composed of four key components, namely stakeholder/customer, learning and growth (organisational development), innovation and business process, and financial perspective
• Improve staff qualification profile • Transformation (establish pipeline
of future skills) • Create management systems
(career ladders, performance management etc.)
• Communication (staff meetings, section head forum, staff communique etc.)
• Establish long term multi-divisional anchor research programs
• Implement systems to manage & protect NMISA IP
• Align and integrate systems and processes
• Trusted business partner & service excellence
• Improved turnaround time and response time
• Increase customer satisfaction thereby increasing referrals
• Financial growth & stability (broaden revenue mix)
• Effective financial controls • Decrease costs of delivered
products & services Financial Perspective
Stakeholder& Customer Perspective
Learning & Growth
Perspective
Business Perspective
Stakeholder and Customer Perspective
Stakeholder and Customer Perspective Linked
to
2013/14
Budget
Baseline
2012/13
Target
2013/14
2013/14 Target
2014/15
Target
2015/16 Strategic outcome
oriented goal
Key Performance
Outputs Key performance
Indicator/ Measure (Q1) (Q2) (Q3) (Q4)
Internationally
benchmarked and
accepted measurement
standards in support of
competitive economic
infrastructure and an
improved quality of life
Gazetted National
measurement Standards
Number of Gazetted national
measurement standards
maintained
R 5
7 8
62
00
0
50 50 Yearly target 50 50
New certified reference
materials and methods of
calibration and/or imported
NMS
New CRMs, measurements,
methods of calibration as listed
in the NMISA Chemistry
Reference Materials and
measurement Register and
Improvement of NMS as listed
in laboratory quality
documentation
5 10 Yearly target 14 15
Demonstrated Measurement
Capabilities Number of Calibration
Measurement Capabilities
maintained in the International
Key Comparison Database
(KCDB)
366 382 Yearly target 413 417
Traceability,
measurement expertise
and services
disseminated to South
African commerce and
industry through
certified reference
materials, appropriate
technology and skills
transfer
Dissemination of NMS and
measurement capabilities
Income generated through
calibration, services, sales,
consultation, research grants
and donor projects (REVENUE) R
23
31
5 0
00
kR11
690 kR10
861 kR2
100 kR4
700 kR7
500 kR10
861 kR13 852 kR10 603
Certified reference materials
supplied to health, food,
environment and the chemical
sectors
Number of Certified Reference
Materials sold 86 200 45 55 50 50 220 240
A skilled and capable
workforce for measurements in
industry
Number of industry, SMME
and/ or regional metrologists’
trained in accurate
measurement
14 49 5 21 13 10 64 80
Number of courses developed
and offered to industry 5 6 1 1 3 1 8 8
Organisational (learning and growth) Perspective
Organisational Perspective
Linked
to
2013/14
Budget
Baseline
2012/13
Target
2013/14
2013/14
Target
2014/15
Target
2015/16 Strategic outcome
oriented goal
Key Performance
Outputs Key performance
Indicator/ Measure (Q1) (Q2) (Q3) (Q4)
Requisite expertise and
competence established
and maintained
according to
internationally accepted
standards
Demonstrated competence
and excellence in
measurement through
scientific outputs
Number of refereed and/or
peer-reviewed publications on
measurement science
R 2
2 8
98
00
0 21 18 0 3 5 10 20 27
Number of presentations (oral
and poster) given at
conferences and workshops on
measurement science 50 51 4 7 28 12 58 66
A skilled, competent and
transformed work force Number of staff with PhDs
R 1
2 9
00
00
0
10 12
Yearly target
14 15
Number of staff with M
degrees 30 34 35 38
Number of post graduate
bursars 5 5 7 8
Number of undergraduate
bursars 6 3 3 5
Number of interns and in-
service trainees
5 5 7 7
Financial and Business Perspective
Financial and Business Perspective Linked
to
2013/14
Budget
Baseline
2012/13
Target
2013/14
2013/14 Target
2014/15
Target
2015/16 Strategic outcome oriented
goal Key Performance Outputs
Key performance Indicator/
Measure (Q1) (Q2) (Q3) (Q4)
Upholding the principles of
corporate governance and
compliance to regulatory
frameworks
Established systems and
processes to ensure
compliance to regulatory
frameworks
Actual expenditure to revenue
received
R2
6 7
82
00
0 New KPI 100% 80% 85% 90% 100% 100% 100%
Unqualified audit opinion
New KPI
Un-qualified
audit opinion
Yearly target
Un-qualified
audit opinion
Un-qualified
audit opinion
% of total budget spent on
CAPEX 10% 20% 10% 15% 18% 20% 24% 30%
Reasonable assurance on the
adequacy, effectiveness,
efficiency of internal controls,
risk management and
governance matters
100% completion of approved
Annual Audit Plan and
issuance of Audit Reports
R 1
09
2 0
00
30 100% 100% 100% 100% 100% 100% 100%
Quarterly reporting to the
Audit & Risk Committee 7 100% 100% 100% 100% 100% 100% 100%
Conduct 100% follow-up audit
on Management action plan
emanating from External
Audit
1% 100% 100% 100% 100% 100% 100% 100%
Client services/ customer
satisfaction
Customer satisfaction for
external jobs (measurements,
calibration, CRMs, etc.) >90% >90% >90% >90% >90% >90% >90% >90%
Physical Metrology
Strategic Goal 1
Modernisation of the National Measurement Standards (NMS) in Physical Metrology
To modernise the NMS for Mass, Force, Torque, Vibration, Acoustics, Pressure & Vacuum and Flow through the improvement and replacement of aged NMS; 46% of NMS and equipment are older than 10 years
Strategic Goal 2
To be the leading Physical Metrology division in National Measurement Institutes (NMIs) in the SADC region
To implement fit for purpose, internationally recognised, mechanical (physical) calibration services for the South African industry and NMI's in the SADC
Strategic Goal 3
Research in new fields of metrology, focussed nano and materials metrology
Accreditation for dimensional gratings to supply traceable calibrations for nano standards, expand research and development work in nano-metrology and materials metrology and uplift the qualification of the metrologists in the Physical division Strategic Goal 4
To develop NMS in the fields of Underwater Acoustics and Ultrasound
To establish competencies in the fields of Underwater Acoustics and Ultrasound with the purpose to develop NMS in these areas (in support of marine biology, maritime monitoring, diagnostic and therapeutic medical)
Strategic Goal 5
Improve measurement in the capabilities of the calibration of mass standards (weights)
To reduce current uncertainties to meet requirements of OIML class E1.
Strategic
Goal 1
Enhance the impact profile of the IR division for dosimetry and
radionuclide measurements in the country and region
Improved capability for disseminating traceability in radiation therapy, radiation
protection including X ray capabilities, ensure measurement equivalence in
dosimetry measurements for the region and increase services to industry;
project partnership with International Atomic Energy Agency (IAEA)
Strategic
Goal 2
Support the South African nuclear regulatory bodies (DoH and
NNR) through traceable measurements and technical expertise
In collaboration with the National Nuclear Regulator (NNR) establish a radio-
analytical measurement laboratory and pilot audits for hospitals in radiation
therapy, diagnostic radiology and/or nuclear medicine
Strategic
Goal 3
Increased workforce that is knowledgeable in dosimetry
including radionuclide measurements in nuclear applications
Host interns from the NRF/DST project and offer to host interns based in
hospitals for medical physics training. Offer training course in dosimetry and
increase collaboration with universities through joint projects and evaluation of
their medical physics interns
Ionising Radiation
Electricity & Magnetism
Strategic
Goal 1
Improve performance of fibre optics and wireless
telecommunication systems
Improve accuracy of existing fibre optic NMS, design replacements for current
fibre optic responsivity standards, gauge market trends in ITC and continue
research and development work towards optical frequency standards
Strategic
Goal 2
Provide users with knowledge and reliable measurement data to
verify energy saving claims for lighting systems and building
materials
Establish capability to develop methods to measure the photometric properties
of light emitting diodes (LEDs), develop facilities to measure thermal properties
of materials heat management in buildings and conduct feasibility study of the
metrology needs in the South African building industry related to thermo-physical
quantities
Strategic
Goal 3
Enhance the NMS to support the development of a world-class
NMISA
Replacement of obsolete equipment, procurement of new equipment and
improve the radio frequency power
Strategic
Goal 4
Assist international space agencies in benchmarking observed
environmental measurement data
Adapt the current NMS for radiometry to meet space applications
Strategic
Goal 1
Entrench our international standing
Continued international and regional benchmarking to prove core competencies,
increase the CMCs in the international database, attendance at relevant scientific
conferences and increase publication outputs
Strategic
Goal 2
Provide essential support for public policy objectives and initiatives
pertaining to measurement compliance issues related to health,
food safety and the environment
Host a National Research Laboratory for Air Pollution Management and establish
a National Environmental Pollution Compliance and Research Centre for
monitoring toxic chemical substances (POPs) meeting international regulations in
support of health, food safety and the environment, including biofuels
Strategic
Goal 4
Provide support to the South African industry competing in a fast-
paced global economy
Provide improved measurement services to industry through certified reference
materials, measurements and chemical analyses; improve measurement
capabilities of analytical labs through provision of proficiency testing (PT)
schemes and value assignment of reference materials
Strategic
Goal 4
Establish and maintain the necessary expertise and competence
according to internationally acceptable standards
Expand the bursary/ intern pipeline, initiate scientist exchange program and
establish collaborative projects with industry and academia
Chemistry
Research & Technology Development
Strategic Goal 1
Develop knowledge management systems
Implement systems to manage and protect NMISA intellectual property and programmes to leverage existing expertise within the organisation
Strategic Goal 2
Develop R&D programmes to support new measurement standards, reference materials and upgrade of existing measurement standards
Identify National Government needs and priorities and establish technology platforms aligned to national priorities and long-term multi-divisional anchor projects/ programmes Strategic Goal 3
Enhance confidence in the national measurement standards
Increase scientific outputs in peer review journals by 7 % per year, promote scientific activities and outputs at national technical conferences (25 oral and 20 presentations for all NMISA and 3 promotional stands at technical conferences per year)
Strategic Goal 4
Establish and maintain the necessary expertise and competence according to internationally acceptable standards
Create opportunities to attract and host students and post-docs into NMISA research projects and implement incentive schemes to attract and retain top researchers
Technical Infrastructure Development
Strategic
Goal 1
Increase the Impact of Metrology/NMISA Nationally and Regionally
Represent the NMISA and South Africa in Metrology issues related to the region,
ensure inclusion of Metrology in TBT issues and a common trade region; design
model for NMISA Technical cooperation and regional outreach programme
(secure funding and implement in collaboration with partners such as the PTB);
reach at least 15-20 SMMEs and NMIs per annum
Strategic
Goal 2
Decrease the reliance on traceability sourced from outside Africa
Establish NMISA as the traceability link to the SI for SADC and Africa and
maintain our international links with the CIPM and associated activities of the
Metre Convention to influence policy to the benefit of South Africa and
developing countries. Ensure contingency candidate to CIPM
Strategic
Goal 3
Increase bi-lateral collaboration with other key NMIs in Africa and
other trading partners especially the BRIC countries
Negotiate and sign bi-lateral scientific cooperation agreements between South
Africa and NMIs in SADC and Africa to leverage and obtain funding for specific
measurement system development projects at the NMISA. Expand bi-lateral
cooperation with the NMIs of the BRICS countries and collaborate with
identified NMIs (PTB, KRISS Korea and NIST, etc.) to tap into the research
scientist exchange program and to train metrologists
Strategic
Goal 1
Human Capital Development
Enrol 5 postgraduate students for PhD, offer 3 undergraduate bursaries and host 5
interns and in-service trainees
Strategic
Goal 2
Improve organisational qualification profile
Increase qualification profile to; PhD:12; MSc: 34; B Degree:39 and other: 37;
Support 18 internal staff further studies
Strategic
Goal 3
Transformation
Increase black professionals to 51%. Submit employment equity plan
Strategic
Goal 4
Staff attraction and retention
Conduct remuneration survey. Develop new employee classification system for
scientific and support staff and develop new job evaluation system for scientific
staff.
Human Resources
Financial Plan1
The spending focus over the MTEF period will be to provide advanced measurement assistance to specific industry sectors as identified in IPAP, and building capacity in the institution to better fulfil its mandate
Over the MTEF period NMISA projects to grow its grant allocation funding from R76.5 million (2012/13) to R250.8 million (2015/16). The main contributor is the additional funding that is earmarked for the re-capitalisation of the institute in support of the NMS
Over the years, the baseline funding did not increase with scientific inflation (which is significantly higher than normal inflation), and the funding lost from the CSIR was not fully compensated when NMISA was established, actual funding available for capital investments on equipment for hosting the NMS drastically decreased from 55% of the total budget in 2001/02 to an unprecedented low level of 4% in 2010/11
Financial Plan2
A continued declined in capital expenditure would led to the discontinuation and abandonment of some NMS in contravention with the entity’s mandate. To avert the situation, the organisation has embarked on a drive to recapitalise the operations by growing the budget from R76.5 million at the current year to R250.8 million in 2015/16 at an average growth rate of 33% from the allocated baseline
The capital investment in NMS will take a centre stage over the next 4 years and capital expenditure is projected to grow by 27% in 2012/13 and 106% by 2015/16. Also, a significant amount of the funding will still be directed towards human capital capacity building which is currently at ~76% of the original baseline allocation
Additionally, the entity is working on initiatives to identify strategic government initiatives /programs that it can participate in and add more value at lower cost to the state such as the establishment and operation of a laboratory for the National Nuclear Regulator, co-operation with the South African Police Services forensic analysis laboratory, a reference environmental monitoring laboratory, a laboratory for traceability and accurate measurement capabilities for nano-technologies, etc
Revenue Forecast over MTEF Year 2012/13 2013/14 2014/15 2015/16
the dti Grant 81,621,000 145,940,000 202,565,000 250,895,000
Revenue from rendering of services 10,500,000 10,600,000 14,549,000 15,755,000
Investment income 1,190,000 1,261,000 1,336,000 1,400,000
Total Budget 93,311,000 157,801,000 218,450,000 268,050,000
-
50 000 000
100 000 000
150 000 000
200 000 000
250 000 000
300 000 000
2012/13 2013/14 2014/15 2015/16
the dti Grant
Revenue from rendering of services
Investment income
Total Budget
-
50 000 000
100 000 000
150 000 000
200 000 000
250 000 000
300 000 000
2012/13 2013/14 2014/15 2015/16
Capex
Goods and services
Compensation of employees
Total Budget
Projected Expenditure over MTEF
Year 2012/13 2013/14 2014/15 2015/16
Capex 9,000,000 35,499,000 74,099,000 73,884,000
Goods and services 29,522,000 71,139,000 107,395,000 119,136,000
Compensation of employees 48,129,000 64,039,000 80,015,000 99,914,000
Total Budget 93,311,000 157,801,000 218,450,000 268,050,000
Estimate of Expenditure linked to Strategic Objectives
Strategic Objectives Audited Outcome
Revised
Estimate
Medium Term Estimate
R thousand 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16
Maintenance of the national measurement
standards and international benchmarking 39 959 41 360 50 947 58 135 91 763 126 461 147 335
Dissemination, measurement expertise and
services to South African commerce and
industry by means of calibration,
measurement or analysis and certified
reference materials
13 320 13 787 18 826 17 588 33 536 44 291 52 654
Upgrade of existing measurement
standards and development of new
measurement standards and reference
materials in line with the requirements of
commerce and industry
6 660 6 893 4 775 8 794 16 251 23 899 33 512
Establish and maintain the necessary
expertise and competencies according to
internationally acceptable standards 6 660 6 893 4 776 8 794 16 251 23 799 34 549
Total expense 66 598 68 934 79 324 93 311 157 801 218 450 268 050
Strategic risks M
ain
ten
ance
of
NM
SA a
nd
M
easu
rem
ent
Equ
ival
ence
• Not ensuring international benchmarked and accepted National Measurement Standards in support of competitive economic infrastructure and improved quality of life
Rec
ogn
itio
n a
nd
HR
• Not establishing and/or maintaining the requisite expertise and competencies according to internationally acceptable standards
Co
rpo
rate
Go
vern
ance
an
d
Co
mp
lian
ce
• Not upholding the principles of good corporate governance and compliance to regulatory frameworks
NMISA 2013