Alexander Forbes Integrated Annual Report 2016

About This Report

Our integrated reporting journey

Since 2011, Alexander Forbes has produced integrated reports with the intention of conveying the most material financial and non-financial aspects of performance for the group and its businesses. Following our listing in 2014, the call for transparent integrated reporting has grown even louder. This report, our sixth integrated report and the second since our 2014 listing on the JSE Limited (JSE), represents a further step in the strengthening of our reporting and the underlying processes.

This year our focus was on presenting a holistic view of the group in line with our strategy of service to clients. Instead of outlining performance in a siloed, business-by-business approach, we now give a view of our successes, challenges and ambitions through the lens of our five material themes. These, too, have been revisited during the year (see 'Our 2016 – 2020 strategic ambition', for detail) and have been adjusted to align more closely with our key stakeholders – clients, employees, investors and society – all the while underpinned by sound governance.


This report covers the Alexander Forbes Group Holdings (AFGH) financial year spanning 1 April 2015 to 31 March 2016, hereafter referred to as 2016. Its contents relate to the activities and performance of our continuing operations.

This report contains summary commentary on the key elements of our financial performance in the Investors section, in an effort to streamline content and reduce redundancy. Both the full and abridged financial statements are available on the Alexander Forbes website at This report contains a summarised form of our annual governance report. The full version is available online as part of our online integrated annual report.

Reporting principles

Alexander Forbes takes direction on its governance and reporting from the King Report on Governance for South Africa 2009 (King III) and aligns its reporting with the Integrated Reporting Council’s Integrated Reporting (<IR>) Framework.

Our financial statements are produced in accordance with the International Financial Reporting Standards (IFRS) and comply with the JSE Listings Requirements as well as the Companies Act of South Africa 2008.


While this report contains financial information from audited information, it is not itself audited.

Our annual financial statements are audited by PricewaterhouseCoopers who expressed an unmodified opinion thereon. The audit report does not necessarily report on all of the information contained in this report. Shareholders are therefore advised that, in order to obtain a full understanding of the nature of the information that has been audited, they should obtain a copy of the auditor’s report together with the accompanying audited consolidated annual financial statements.

Our B-BBEE rating has been independently verified by Empowerdex Proprietary Limited.


In line with our heightened focus on our stakeholders, gathering their input is of particular importance. We welcome all feedback – on this report and otherwise – via e-mail at