Sasol Form 20-F for the year ended 30 June 2021 - Book - Page 111
pre-approved by the Chief Financial Officer. The audit
committee is notified on a monthly basis of services
approved within this threshold. Fees in respect of
non-audit services exceeding R2 million require
pre-approval by the audit committee, prior to
engagement.
Audit fees consist of fees billed for the annual
audit of the company’s consolidated financial
statements, review of the group’s internal controls over
financial reporting in accordance with Section 404 of
the Sarbanes-Oxley Act and the audit of statutory
financial statements of the company’s subsidiaries,
including fees billed for assurance and related services
that are reasonably related to the performance of the
audit or reviews of the company’s financial statements
that are services that only an external auditor can
reasonably provide.
The total aggregate amount of non-audit fees
in any one financial year must be less than 20% of the
total audit fees for Sasol’s annual audit engagement,
unless otherwise directed by the audit committee. In
addition, services to be provided by the independent
accountants that are not within the category of
approved services must be approved by the audit
committee prior to engagement, regardless of the
service being requested and the amount, but subject to
the restriction above.
Audit-related fees consist of the review of
documents filed with regulatory authorities,
consultations concerning financial accounting and
reporting standards, review of security controls and
operational effectiveness of systems, due diligence
related to acquisitions and employee benefit plan
audits.
Requests or applications for services that
require specific separate approval by the audit
committee are required to be submitted to the audit
committee by both management and the independent
accountants, and must include a detailed description of
the services to be provided and a joint statement
confirming that the provision of the proposed services
does not impair the independence of the independent
accountants.
Tax fees include fees billed for tax compliance
services, including assistance in the preparation of
original and amended tax returns; tax consultations,
such as assistance in connection with tax audits and
appeals; tax advice relating to acquisitions, transfer
pricing, and requests for rulings or technical advice
from tax authorities; and tax planning services and
expatriate tax compliance, consultation and planning
services.
No work was performed by persons other than
the principal accountant’s employees on the principal
accountant’s engagement to audit Sasol Limited’s
financial statements for 2021.
All other fees consist of fees billed which are
not included under audit fees, audit related fees or tax
fees.
Item 16.D EXEMPTIONS FROM THE LISTING
STANDARDS FOR AUDIT COMMITTEES
Audit committee approval policy
Not applicable.
In accordance with our audit committee
pre-approval policy, all audit and non-audit services
performed for us by our independent accountants were
approved by the audit committee of our board of
directors, which concluded that the provision of such
services by the independent accountants was
compatible with the maintenance of that firm’s
independence in the conduct of its auditing functions.
Item 16.E PURCHASES OF EQUITY
SECURITIES BY THE ISSUER AND
AFFILIATED PURCHASERS
In terms of our policy, non-audit services not
exceeding R500 000 that fall into the categories set out
in the pre-approval policy, do not require pre-approval
by the audit committee, but are pre-approved by the
Senior Vice President: Financial Controlling and
Governance. The audit committee is notified of each
such service at its first meeting following the rendering
of such service. All non-audit services exceeding
R500 000 but not exceeding R2 million are
Period
For the year ended
30 June 2021
2020-07-01 to 202106-30. . . . . . . .
110
Total
Maximum
number of
number of
shares
shares
Total
Average
Shares
purchased
that may
number of
price
cancelled
as part of
yet be
ordinary
paid
under the share
publicly
purchased
shares
per
repurchase
announced
under the
repurchased
share
scheme
programmes programmes
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