Regulation and formation
The Bureau of Market Research (Pty) Ltd is a private company registered and incorporated with the Companies and Intellectual Property Commission (CICP) (Registration number: 2019/001154/07). The company forms part of the University of South Africa (Unisa) Corporate Group Structure and operates as a wholly owned subsidiary company of Unisa Enterprise (Pty) Ltd. To regulate the relationship between the company, its shareholder and directors, the company has a memorandum of incorporation (MOI) and a Board Charter. The company is registered with the South African Revenue Service (SARS) for value-added (VAT) and income tax purposes. The annual financial statements of the company are voluntarily audited.
The principles outlined in the King Report on Corporate Governance for South Africa 2016 (King IV) are entrenched in the internal controls, policies and procedures governing the corporate conduct of the Bureau of Market Research (Pty) Ltd. To evolve ethical and effective leadership, the company has an independent Board with the required knowledge, skills and experience to objectively and effectively discharge of its governance role and fiduciary responsibilities towards its shareholder and stakeholders. The diverse Board comprises three members of which two are non-executive directors. The Board meets four times annually.
Guided by the Companies Act (No. 71 of 2008) and the Companies Regulations (2011), the Bureau of Market Research (Pty) Ltd has a public interest score of less than 100 points, which do not place any legal obligation on the company to appoint specialized board committees. Consequently, the Board and parent company form a sound corporate governance structure to protect shareholders’ interests and the communities and environment in which it operates. More specifically, the constituted governance structure oversees the company activities and compliance requirements regarding company ethics, sustainability, environmental and corporate social responsibility aspects and Broad-Based Black Economic Empowerment (BBBEE). Risk assessment and mitigation management and internal controls form key governance functions driven by the Board, CEO and Management Committee. At operational level, appropriate internal controls are implemented to provide reasonable assurance on safeguarding assets, preventing and detecting errors, the accuracy and completeness of accounting records, and the reliability of financial statements. To further govern internal control, terms of references exist for all operational governance structures, inclusive of the Research Ethic Review, Research Projects, Research Publications and Tender Committees. The Management Committee and external stakeholders superintend the governance functions of these committees. Technology and information governance also forms part of the internal governance structures, policies and procedures, which aim to align strengthen information security management and compliance.
Corporate Social Responsibility Statement
Bureau of Market Research (Pty) Ltd – King IV Principles