Committees

Internal Control

The directors will conduct an annual review of the Company’s internal controls, and report their findings to shareholders. This review will cover financial, operational and compliance controls, as well as a review of the risk management policies and procedures of the Company. As the Company grows in size, an internal audit committee will be established in accordance with the Mauritian Code of Governance.

Audit Committee

The audit committee has been set up as a link between the Board, internal audit and external auditors. Its responsibilities include, but are not limited to, reviewing the appropriateness of the Company’s accounting policies, assessing the effectiveness of the internal control processes, reviewing the annual financial statements before their submission to the Board, discussing the results of the external audit process with the external auditors, and providing guidance to the risk management function. The audit committee is also responsible for the Company risk management function.

The audit committee considered the expertise and experience of the financial director and ensured that appropriate financial reporting procedures exist and are working.

The members of the audit committee are:

  • Mohamed Yusuf Sooklall (Chairperson)
  • Jean Daniel Laurent Paulin Marie

Internal control and Risk management

Internal audit and compliance

The internal audit function is to ensure that there is an additional oversight to ensure compliance with the regulatory authorities.

It must be noted that Go Life International has no managerial structure and no employees and as such does not have any internal audit department other than the committees appointed to ensure compliance.

External Auditors

The auditor of the Group is Aejaz Nazir Associates & Co Mauritius and it has performed an independent and objective audit of the Group’s annual financial statements for the year ended 28 February 2018. The statements are prepared in terms of the International Financial Reporting Standards (‘IFRS’). Quarterly reports are not audited.

Risk Management

The Board is responsible for risk management and to ensure that the procedures are in place within the organisation for risk management; for the definition of the overall strategy for risk tolerance; and for the design and implementation of the risk management processes.

The Company’s policy on risk management encompasses all significant business risk including physical, operational, business continuity, financial, compliance and reputational risk, which could influence the achievement of the Company’s objectives.

During the course of the year, the Board considered the Company’s responsiveness to changes within its business environment. The Board is satisfied that there is an ongoing process, which has been operational.

It is important to note that internal control and risk management structures have been integrated in such a way that the Board of Directors ensures that the mandate stipulated in the listing particulars is carried out. The mandate granted in the listing particulars pertaining the utilization of shareholder funds to acquire shares in Go Life Healthcare and its sub-structures have been extended for the year under review and will only be amended to focus the vision and goals for the next year.

Investment Committee

The investment committee has been setup to ensure that the major investments are in line with the Board’s strategy.

The members of the investment committee are:

  • Marthinus Johannes Wolmarans
  • Gerhard Christiaan Jacobus Naudé

Investment committee meetings are held as and when required.

Code of Ethics

In accordance with the requirements of the SEM, the Board of Directors has adopted this Code of Ethics (this “Code”) to encourage honest and ethical conduct, including fair dealing and the ethical handling of conflicts of interest;

All directors, officers and employees of the Company are expected to be familiar with the Code and to adhere to those principles and procedures set forth in the Code.

Corporate Governance Committee

The Corporate Governance Committee’s aim is to ensure best practice of corporate governance. Since the Company does not have any employees and is managed by FinAegis Ltd, the need for a nomination committee and a remuneration committee does not arise.

The members of the Corporate Governance Committee are:

  • Mohamed Yusuf Sooklall (Chairperson)
  • Marthinus Johannesd Wolmarans
  • Gerhard Christiaan Jacobus Naudé