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JOHN DANIEL HOLDINGS LIMITED AND ITS SUBSIDIARIES
INTEGRATED ANNUAL REPORT 2011
Audit Committee Report
This report is provided by the audit committee appointed
in respect of the 2011 financial 15 months of John Daniel
Holdings Limited and its subsidiaries.
1. Members of the Audit Committee
The members of the audit committee are all independent
non-executive directors of the group and include:
B Topham (Chairman)
RJ Connellan
KA Rayner
The committee is satisfied that the members thereof have
the required knowledge and experience as set out in Sec-
tion 94(5) of the Companies Act 71 of 2008 and Regulation
42 of the Companies Regulation, 2011.
2. Meetings held by the Audit Committee
The audit committee performs the duties laid upon it by
Section 94(7) of the Companies Act 71 of 2008 by holding
meetings with the key role players on a regular basis and
by the unrestricted access granted to the external audi-
tors.
The committee held 4 scheduled meetings during 2011
and all the members of the committee attended all the
meetings.
3. External auditor
The committee satisfied itself through enquiry that the ex-
ternal auditors is independent as defined by the Compa-
nies Act 71 of 2008 and as per the standards stipulated by
the auditing profession. Requisite assurance was sought
and provided by the Companies Act 71 of 2008 that in-
ternal governance processes within the firm support and
demonstrate the claim to independence.
The audit committee in consultation with executive
management, agreed to the terms of the engagement.
The audit fee for the external audit has been considered
and approved taking into consideration such factors as
the timing of the audit, the extent of the work required
and the scope.
4. Annual financial statements
Following the review of the annual financial statements
the audit committee recommend board approval thereof.
5. Accounting practices and internal control
The Group applies accounting practices that are in accor-
dance with International Financial Reporting Standards,
and the Companies Act 71 of 2008.
The Group is committed to the design and implementa-
tion of an appropriate risk based internal controls. The
Internal controls are reviewed on a continuous basis to
ensure they remain appropriate within the changing JDH
control environment.
On behalf of the audit committee
B Topham
Chairman Audit Committee
Pretoria