Managing risk in an organisation as diverse as Telkom
requires a strong risk management culture. Actively
promoting a risk-conscious culture is critical to achieving
Telkom's strategic business objectives. The Board of
Directors through the ARMC structures, has identified the
level of acceptable risk to Telkom and it is managed within
the various Telkom service organisations. The Audit and Risk
Management Committee is the ultimate committee through
which the Board executes its risk-related responsibilities. The
Board of Directors and senior management demonstrate,
managed and informed risk-taking behaviour, aligned with
the corporate values and observing the obligations of the
Telkom codes of ethics. Telkom's business codes of ethics are
accessible on Telkom's website on www.telkom.co.za/ir. All
employees are required to maintain the highest ethical
standards in ensuring that the Company's business practices
are conducted in a manner which, in all reasonable
circumstances, is above reproach, reflecting Management's
commitment to integrity and ethical values. The Company's
business codes of ethics seeks to instil in its employees
the spirit of fairness, respect and ethical standards
in dealing with Telkom's stakeholders.
Telkom regards the Enterprises Risk Management guidelines
described by Commity of Sponsoring Organisation of
the Threadway Commission (COSO) as best-practice. To
describe the implementation of enterprise Risk Management
within the Telkom environment, set out below are the eight
components described by COSO: |
