HOLLARD

ASSESSMENT OF THE BOARD – 2020

 

BASIS OF EVALUATION

The King Code of Governance Principles for South Africa recommends that the performance of the Board and its Committees should be evaluated regularly. In addition, GOI2 requires an annual appraisal of the Board’s performance

This questionnaire below has been developed to assist in assessing the performance of the Board. Please rate the Board’s performance by indicating next to each statement whether you “Agree”, “Disagree” on the matter.

Participants are encouraged to please comment on statements, or the performance of the Board generally. Where you disagree with a statement, especially, kindly provide a reason why you disagree with the statement

Questionnaires are kept confidential. The results of the evaluation will be collated into a report and feedback thereon will be provided to the board by the Chairman.

Members are invited to give their comments on anything they feel is not covered sufficiently in this questionnaire or, generally, in respect of any aspects or areas at committee/board level or within Hollard which they feel could be improved or handled better or more efficiently.

Welcome to the Hollard survey as prepared by CorpStat Governance Service

Please click next to start. There is no time limit.

Name
Surname
CREATING AN EFFECTIVE BOARD
The board’s composition is appropriate in terms of the number and experience of directors (Agree/Disagree)
If you disagree, please tell us why
The board has the necessary skills, industry knowledge and expertise to fulfill its role (Agree/Disagree)
If you disagree, please tell us why
The board has the necessary diversity in terms of gender, race, nationality and age (Agree/Disagree)
If you disagree, please tell us why
The board clearly understands its role and responsibilities (Agree/Disagree)
If you disagree, please tell us why
Board members are appointed through a formal process (Agree/Disagree)
If you disagree, please tell us why
Board members have a sufficient understanding of the company and the sector in which it operates (Agree/Disagree)
If you disagree, please tell us why
Board members demonstrate the highest level of integrity (Agree/Disagree)
If you disagree, please tell us why
The board plays an appropriate pro-active role in change (Agree/Disagree)
If you disagree, please tell us why
Most board members are independent non-executive directors (Agree/Disagree)
If you disagree, please tell us why
There is a clear division of responsibilities between the board and the CEO (Agree/Disagree)
If you disagree, please tell us why
Succession planning is in place for board members (Agree/Disagree)
If you disagree, please tell us why
RUNNING AN EFFECTIVE BOARD
The board has in place a set of objectives that seek to enhance its effectiveness (Agree/Disagree)
If you disagree, please tell us why
The board’s workload is being dealt with effectively (Agree/Disagree)
If you disagree, please tell us why
Board members work together constructively as a team (Agree/Disagree)
If you disagree, please tell us why
There is a level of independent behaviour in the boardroom (Agree/Disagree)
If you disagree, please tell us why
Board meetings are conducted in a manner which encourages open discussion, healthy debate and allows each board member to clearly add value to discussion and decisions (Agree/Disagree)
If you disagree, please tell us why
The board’s discussions enhance and assists management’s decision making (Agree/Disagree)
If you disagree, please tell us why
The directors are enthusiastic, informed and fully committed to serving on the board (Agree/Disagree)
If you disagree, please tell us why
The directors and the Chief Executive Officer have created a relationship that promotes open and frank discussion (Agree/Disagree)
If you disagree, please tell us why
The relationship between a) the board and b) the CEO, CFO and members of the senior management team strikes the right balance between challenge and mutuality (Agree/Disagree)
If you disagree, please tell us why
The board has in place a set of objectives that seek to enhance its effectiveness (Agree/Disagree)
If you disagree, please tell us why
BOARD PROCESSES
The Board has an appropriate charter and workplan (Agree/Disagree)
If you disagree, please tell us why
The board workplan is up to date and regularly reviewed (Agree/Disagree)
If you disagree, please tell us why
Board meetings allow enough time for the discussion of substantive matters (Agree/Disagree)
If you disagree, please tell us why
Board meeting agendas and related board papers are circulated in a timely manner to enable full and proper consideration to be given to the important issues (Agree/Disagree)
If you disagree, please tell us why
Board papers are of an acceptable quality (Agree/Disagree)
If you disagree, please tell us why
Board meeting minutes are clear, accurate, consistent, complete and timely (Agree/Disagree)
If you disagree, please tell us why
Outstanding actions arising from board meetings are properly followed up (Agree/Disagree)
If you disagree, please tell us why
That the board is kept up to date between meetings, on all material matters affecting the company (Agree/Disagree)
If you disagree, please tell us why
COMMITTEES
The board has appointed the right committees to deal with matters related to specialist areas (Agree/Disagree)
If you disagree, please tell us why
The board has an effective and independent Audit Committee (Agree/Disagree)
If you disagree, please tell us why
The board is adequately informed of each committee’s activities? (Agree/Disagree)
If you disagree, please tell us why
STEWARDSHIP
The board understands and fulfills its stewardship role? (Agree/Disagree)
If you disagree, please tell us why
The board provides ethical and effective leadership to the company (Agree/Disagree)
If you disagree, please tell us why
The company has implemented the Code of Ethics that it is properly monitored (Agree/Disagree)
If you disagree, please tell us why
The board acts as the focal point for a custodian of corporate governance (Agree/Disagree)
If you disagree, please tell us why
The Company is seen to be a responsible corporate citizen (Agree/Disagree)
If you disagree, please tell us why
Board members are fully informed in relation to directors’ and officers’ insurance (Agree/Disagree)
If you disagree, please tell us why
There is an adequate policy in place for dealing with potential conflicts of interest and confidential information (Agree/Disagree)
If you disagree, please tell us why
Any real or potential conflict of interest in the boardroom is adequately dealt with (Agree/Disagree)
If you disagree, please tell us why
SENIOR MANAGEMENT
The board sets key performance areas and appropriate targets for the CEO and executive management (Agree/Disagree)
If you disagree, please tell us why
The board has in place a rigorous process to evaluate the performance of the CEO, and Senior Management (Agree/Disagree)
If you disagree, please tell us why
The board is appropriately engaged in CEO/Executive Management succession planning (Agree/Disagree)
If you disagree, please tell us why
There is an appropriate delegation of authority in place for management and it is regularly reviewed (Agree/Disagree)
If you disagree, please tell us why
PERFORMANCE MEASURES
Existing performance measures are linked to the company’s strategy? (Agree/Disagree)
If you disagree, please tell us why
The company’s performance is adequately benchmarked against its peers (Agree/Disagree)
If you disagree, please tell us why
Management’s remuneration is appropriately linked to the company’s performance and an appropriate peer group (Agree/Disagree)
If you disagree, please tell us why
The board has in place an appropriate process for board and committee evaluation (Agree/Disagree)
If you disagree, please tell us why
STRATEGIC FORESIGHT
The board has full and effective control of the company and the business and proper and adequate oversight in respect of all material issues affecting the company (Agree/Disagree)
If you disagree, please tell us why
The non-executive directors constructively contribute and play a prominent role in the development, approval and monitoring of the business strategy (Agree/Disagree)
If you disagree, please tell us why
Directors are clear on the strategy going forward (Agree/Disagree)
If you disagree, please tell us why
The board receives adequate information on the key drivers of the business from management (Agree/Disagree)
If you disagree, please tell us why
The board appropriately evaluates/considers strategic risks (Agree/Disagree)
If you disagree, please tell us why
The board devotes significant time to determine the emerging issues that could affect the company in the future (Agree/Disagree)
If you disagree, please tell us why
Most of the board’s time is spent on issues relating to the strategic direction and not day-to-day management responsibilities (Agree/Disagree)
If you disagree, please tell us why
The board’s comprehension of the company’s purpose, vision, mission and strategic plan is reflected in actions taken in the boardroom (Agree/Disagree)
If you disagree, please tell us why
The board approves the annual budget (Agree/Disagree)
If you disagree, please tell us why
The board monitors the operational and financial performance of the company against the approved budget and targets (Agree/Disagree)
If you disagree, please tell us why
The Board is adequately involved in setting and approval of material financial and non-financial policies for the company (Agree/Disagree)
If you disagree, please tell us why
FINANCIAL REPORTING
There are effective controls in place and the board governs and directs the company’s business as a going concern (Agree/Disagree)
If you disagree, please tell us why
The board properly scrutinizes the annual financial statements (Agree/Disagree)
If you disagree, please tell us why
The board has assessed the risk of deliberate or unintentional manipulation of financial information (Agree/Disagree)
If you disagree, please tell us why
You are provided with sufficient information and/or explanation regarding transactions, estimates or forecasts by management which could have a material impact on financial information (Agree/Disagree)
If you disagree, please tell us why
At least one member of the board is technically proficient to be able to assess the entity’s compliance with International Financial Reporting Standards (Agree/Disagree)
If you disagree, please tell us why
You are afforded sufficient opportunity to question Management specifically regarding financial information (Agree/Disagree)
If you disagree, please tell us why
The reasons provided by Management for variations in financial information from the prior year and budget are sufficient and easily comprehensible (Agree/Disagree)
If you disagree, please tell us why
The board assumes ultimate responsibility for risk governance (Agree/Disagree)
If you disagree, please tell us why
The board oversees the implementation of the risk management policy and plan by management (Agree/Disagree)
If you disagree, please tell us why
The company’s risk management processes provide to the board a full understanding of the high-risk issues that could impact the company, including reputational risk (Agree/Disagree)
If you disagree, please tell us why
There are effective controls in place to mitigate and/or manage material risks (Agree/Disagree)
If you disagree, please tell us why
The board monitors compliance relating to applicable laws  (Agree/Disagree)
If you disagree, please tell us why
The board assumes responsibility for IT Governance  (Agree/Disagree)
If you disagree, please tell us why
There is an effective risk-based internal audit function (Agree/Disagree)
If you disagree, please tell us why
There are proper and adequate whistleblowing procedures in place (Agree/Disagree)
If you disagree, please tell us why
VALUE CREATION
The board/management have adequate mechanisms for communicating with shareholders (Agree/Disagree)
If you disagree, please tell us why
The board has clearly identified the company’s major stakeholders and the ‘value’ each requires? (Agree/Disagree)
If you disagree, please tell us why
Financial and non-financial value drivers are in place to focus on the enhancement of value (Agree/Disagree)
If you disagree, please tell us why
The company creates major stakeholder value (Agree/Disagree)
If you disagree, please tell us why
Bad news is communicated to the board as it arises (Agree/Disagree)
If you disagree, please tell us why
PROFESSIONAL DEVELOPMENT
New board members are given an appropriate induction programme (Agree/Disagree)
If you disagree, please tell us why
The Board receives appropriate ongoing training and development (Agree/Disagree)
If you disagree, please tell us why