MSV Gantsho
Chairman of the Board
B Nqwababa
Joint President and
Chief Executive Officer
P Victor
Chief Financial Officer
About this report
The Integrated Report is our primary report to stakeholders. |
REPORTING BOUNDARY FOR THE INTEGRATED REPORT(risks, opportunities and outcomes) |
FINANCIAL REPORTING ENTITY(control and significant influence) |
| SASOL |
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| Subsidiaries |
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| Joint arrangements |
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| Investments (other forms) |
| Employees |
| Business partners |
| Customers |
| Suppliers |
| Communities |
| Government and regulators |
Our Integrated Report aims to provide a balanced, accurate and accessible assessment of our strategy, performance and opportunities in relation to material financial, economic, social, environmental and governance value-based issues. This year, we continue to provide a more detailed discussion on the material matters (see page 44) which could substantially affect our ability to create value in the short, medium or long term. These matters form the anchor of the content throughout this report.
Committed to growing
the value of Sasol, our
Joint Presidents and Chief
Executive Officers (CEOs)
are accountable for the
successful implementation of
the Group strategy and the
overall management and
performance of Sasol.
The Board governs the Group’s disclosure control processes, including the integrity of Sasol’s annual reports. All significant items are reported on a like-for-like basis, with no major or significant restatements. Our disclosure and reporting processes and suite of publications are aligned with the applicable disclosure requirements of the Companies Act 71 of 2008, the Johannesburg Stock Exchange, the New York Stock Exchange, the United States Securities and Exchange Commission and the integrated reporting requirements of the King Code of Governance Principles for South Afric 2016 (King IV™). Our controls and processes in place to comply with section 404 of the Sarbanes-Oxley Act, 2002 are subject to internal and external audit assessment.
In preparing our Integrated Report, we were guided by the International Integrated Reporting Framework, published by the International Integrated Reporting Council in December 2013. Our sustainability report (SR) with supporting information to the Integrated Report, is informed by the GRI Sustainability Reporting Standards to ensure content is aligned with the material matters impacting our ability to create value.
The Group Executive Committee is responsible for developing the strategy and manages the business in an integrated manner, taking into consideration available resources and the interests of all our stakeholders. The Board approves the strategy.
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Refer to page 26 – 39 for more on our strategy. |
Internal control and combined assurance framework
The Board, with the support of the Audit Committee, is ultimately responsible for Sasol’s system of internal control, designed to identify, evaluate, manage and provide reasonable assurance against material misstatement and loss. We apply a combined assurance model, which seeks to optimise the assurance obtained from management and internal and external assurance providers while fostering a strong ethical climate and mechanisms to ensure compliance. Through the enterprise risk management approach, approved by the Board, management identifies key risks facing Sasol and implements the necessary internal controls. The process is monitored and evaluated under the direction of internal audit, while external audit cover key controls and accounting matters in the course of their audit. Other levels of external assurance are obtained as and when where required. The Board and Audit Committee assessed the effectiveness of controls for the year ended 30 June 2018 as satisfactory, principally through a process of management self-assessment, including formal confirmation from executive management and also considered reports from internal audit, external audit and other assurance providers.
Directors' approval
The Sasol Limited Board (the Board) is ultimately responsible to ensure the integrity of Sasol’s integrated reporting. We confirm that the 2018 Integrated Report addresses all material issues and matters, and fairly represents the Group’s integrated performance. The Audit Committee, authorised by the Board, approved this report and its publication on 27 August 2018.
Signed on behalf of the Board.
C Beggs
Chairman of the
Audit Committee
SR Cornell
Joint President and
Chief Executive Officer
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Our Integrated Report provides cross-references to our suite of reporting publications: |
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Form 20-F Our annual report issued in accordance with the Securities Exchange Act of 1934. |
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Sustainability Report Supporting information to the Integrated Report. Prepared in accordance with the GRI, Reporting Standards and confirms alignment with the Task Force on Climate Related Financial Disclosures. |
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Annual Financial Statements The financial statements and remuneration report, prepared in accordance with International Financial Reporting Standards, together with the report of the Audit Committee |
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These reports are available on our website, www.sasol.com, or on request from Sasol Corporate Affairs. Contact details are on page 90. |