Wesizwe is committed to embedding a culture of risk management, mitigation and responsibility in the company’s culture of shared attitudes, values and goals. As a result, Wesizwe has adopted the International Risk Management Standard ISO31000–2009 Risk Management Principles and Guidelines for its risk management process. In 2011 and 2012, an initial baseline assessment was performed for strategic and operational risks by determining inherent risks for the business. Workshops were conducted with directors and the executive team to check the implementation and effectiveness of controls. This will be an on-going process to ensure that risks are managed as part of day to day business and issues are managed at all appropriate levels.
The top risks are presented to the audit and risk committee for guidance and oversight on the implementation of controls on a quartely basis. Full details of our strategic and operational risks are provided in the Wesizwe 2014 integrated report, which can be downloaded from the homepage of the website.