External auditor appointment, independence and fees
The committee is responsible for determining that the external audit firm and designated individual auditor have the necessary
independence, experience, qualifications and skills, and that the audit fees and non-audit fees are reviewed and approved.
The committee is satisfied that the group’s external auditor, PricewaterhouseCoopers Inc. (PwC) is independent, which review
included the extent of non-audit work undertaken by PwC for the group and compliance with criteria relating to independence or
conflicts of interest, as prescribed by the Independent Regulatory Board for Auditors and other international bodies. The requisite
assurance was also sought and provided by PwC, that internal governance processes within the audit firm support and
demonstrate its claim to independence. A formal policy governs the process whereby PwC is considered for non-audit services.
The audit committee determines the nature and extent of non-audit services that PwC can provide and pre-approves all permitted
non-audit assignments by PwC.
The committee, in consultation with executive management, agreed to the terms of the 31 December 2019 audit engagement
letter, the audit plan and budgeted audit fees. Refer to note 4 in the annual financial statements disclosing audit fees and fees for
Following the assessment of the performance of PwC, the committee has nominated PwC for re-election as the group’s external
auditor at the 2020 annual general meeting. The committee satisfied itself that the audit firm and designated auditor are accredited
in terms of the JSE list of auditors and their advisers.
The audit committee resolved that a formal request for proposal be circulated in 2020 in respect of Sun International’s audit firm
rotation, with the intention that the newly appointed auditor be integrated to effectively commence their duties in the 2021 financial