About this report

The Integrated Report is our primary report to stakeholders.

Our Integrated Report aims to provide a balanced, accurate and accessible assessment of our strategy, performance and opportunities in relation to material financial, economic, social, environmental and governance issues. This year, we continue to provide a more detailed discussion on the material matters (see here) which could substantially affect our ability to create value in the short, medium or long term. These matters form the anchor of the content throughout this report.

Committed to growing shareholder value sustainably, our Joint Presidents and Chief Executive Officers (CEOs) are accountable for the successful implementation of the Group strategy and the overall management and performance of Sasol.

The Group Executive Committee is responsible for developing the strategy and manages the business in an integrated manner, taking into consideration available resources and the interests of all our stakeholders. The Board is accountable to approve the strategy.

In preparing our Integrated Report, we were guided by the International Integrated Reporting Framework, published by the International Integrated Reporting Council in December 2013. Our sustainability reporting (SR) with supporting information to the Integrated Report, is informed by the GRI Sustainability Reporting Standards to ensure the contents are aligned with the material matters impacting our ability to create value.

The Board governs the Group’s disclosure control processes, including the integrity of Sasol’s annual reports. All significant items are reported on a like-for-like basis, with no major or significant restatements. Our disclosure and reporting processes and suite of publications are aligned with the disclosure requirements of the Companies Act 71 of 2008, the Johannesburg Stock Exchange, the New York Stock Exchange, the Securities and Exchange Commission and the integrated reporting requirements of the King Code of Governance Principles for South Africa 2016 (King IV™). Our controls and processes in place to comply with section 404 of the Sarbanes-Oxley Act, 2002 are subject to internal and external audit assessment.

INTERNAL CONTROL AND COMBINED ASSURANCE FRAMEWORK

The Board, with the support of the Audit Committee, is ultimately responsible for Sasol’s system of internal control, designed to identify, evaluate, manage and provide reasonable assurance against material misstatement and loss. We apply a combined assurance model, which seeks to optimise the assurance obtained from management and internal and external assurance providers while fostering a strong ethical climate and mechanisms to ensure compliance.

Through the enterprise risk management approach, approved by the Board, management identifies key risks facing Sasol and implements the necessary internal controls. The process is monitored and evaluated under the direction of internal audit, while external audit covers key controls and accounting matters in the course of their audit. Other levels of external assurance is obtained as and when where required.

The Board and Audit Committee assessed the effectiveness of controls for the year ended 30 June 2017 as satisfactory, principally through a process of management self-assessment, including formal confirmation from executive management and also considered reports from internal audit, external auditor and other assurance providers.

Reporting legend

Integrated Report
Annual Financial Statements
Sustainability Reporting
Form 20-F