Eskom Integrated Report 2011 | Corporate Governance - Compliance with the Public Finance Management Act (PFMA)

Scope of report Nature of business, major
products and services Purpose, values and strategic objectives Key facts about Eskom Sustainability reporting in Eskom Application of GRI principles Integrated risk management Regulatory and legal framework

Corporate governance

Eskom Development Foundation

Information key:

Compliance with the Public Finance Management Act (PFMA)

The board is the accounting authority in terms of the PFMA and Eskom is listed as a Schedule 2 public entity. This Act also applies to subsidiaries and entities owned or controlled by Eskom, which are also classified as Schedule 2 entities.

The PFMA regulates financial management and governance. Eskom ensures that all directors and employees are aware of the provisions of the PFMA through regular training programmes. Directors comply with their fiduciary duties as set out in the PFMA. Board responsibilities are also specified in the PFMA.