Governance Report

Governance Report

The PPS Foundation Board of Trustees, led by the chairperson of the PPS Holdings Trust (the PPS Group apex body), meets quarterly to review operational progress against strategic goals, the review of fiscal management against set financial governance standards as well as risks. Under the direction of the Executive Trustee, the foundation management team implements the strategic plans and ensures the effective operational functioning of the organisation. The PPS Foundation Board of Trustees provides strategic oversight and guidance to the management team of the foundation. The board is assured of the integrity of the PPS Foundation operations through the support of subcommittees and governance functions, including the Group Audit and Risk Committee, Group Compliance, the Company Secretariat and Group Finance. The PPS Foundation is registered as a public benefit organisation and all its governance practices and processes are aligned to regulatory requirements relating to SARS and B-BBEE. This includes compliance with section 18A(1) (a) of the Income Tax Act that stipulates that all foundation donors receive a tax-exemption certificate.