INTEGRATED REPORT 2019

About our integrated report

Our Reporting Philosophy

We seek to provide investors and other stakeholders with the relevant material information they may require about our performance, strategy and future prospects. We strive to improve the quality and disclosure of our reporting by aligning with relevant frameworks and best practice.

This integrated annual report

Purpose and framework Scope and boundary Assurance
Airports Company South Africa’s FY2018/19 integrated annual report (IAR) is a report to all our stakeholders. It sets out our short-, medium- and long-term views on value creation.

The report was built on the following frameworks and standards:
  • IIRC’s International Integrated Reporting (IAR) Framework
  • IFRS
  • Companies Act
  • PFMA
  • King IV Report
  • ISO/SANS 31000
The IAR contains material information on the Group’s performance for the financial year 1 April 2018 to 31 March 2019 (the financial year under review).

Our method for determining materiality is defined and explained here.

We disclose all relevant internal and external factors that substantially influence our business, where applicable.

There were no restatements to comparatives, unless otherwise stated.

The financial reporting boundary was determined in accordance with IFRS.
  • Management and governance oversight
  • The strategic objectives and key performance indicators were internally and externally assured, and were audited both internally and by the Auditor-General of South Africa as per the Public Audit Act of South Africa, No. 25 of 2004.
  • The National Treasury’s Framework for Managing Programme Performance Information confirms that performance information is useful if indicators and targets are well defined, verifiable, attainable, specific, measurable, time-bound and relevant. We consider these elements in finalising the information presented in this IAR. The external audit opinion on the consolidated annual financial statements for FY2018/19 includes a summary of the work performed.

Consolidated annual financial statements

Purpose and framework Scope and boundary Assurance
Airports Company South Africa’s FY2018/19 integrated annual report (IAR) is a report to all our stakeholders. This report focuses on the current and prior year’s financial results contain the following:
  • Audit and Risk Committee Report
  • Directors’ responsibilities and approval
  • Company Secretary’s certificate
  • Auditor-General Report
  • Directors’ report
  • Consolidated annual financial statements
The report was developed using the following frameworks and standards:
  • IFRS
  • Companies Act
  • PFMA
  • King IV Report
The annual financial statements contain consolidated financial results for the Group for the financial year ending 31 March 2019.

The financial reporting boundary was determined in accordance with IFRS.
  • Internal controls
  • Management and governance oversight
  • Exco
  • Internal audit
  • Board subcommittees
  • Board
  • External audit opinion
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