Our approach to reporting
“Lions Cricket prides itself as one of the leading domestic cricket and sporting unions in the country and the continent. The Union manages the world class cricket and multipurpose venues that hosts various world class sporting events, legends and world leaders (i.e., cricket world cup, IPL, Davis Cup, FIFA Soccer World Cup, Nelson Mandela Annual Lecture, greatest One Day Game ever and recently hosted the ODI world cup winners England to name a few).
On the cricket side, the Union is the biggest domestic cricket union in the country bosting a reach to schools, community-based clubs, post matric institutions, women, blind cricket and deaf cricket, world class scorers, umpires and best in class talented cricketers.
Its franchise boasts a significant portion of Proteas players across all racial backgrounds including 2018 World #1 and 2019 world #2 test bowler and the first white ball black captain.”
The stakeholders of The Companies are a cricket-loving community made up of staff, players, administrators and supporters from the various cricket clubs across all leagues. Other stakeholders include schools, universities, the City of Johannesburg, sponsors and commercial partners. The Companies are dedicated to ensuring good governance and transparent reporting.
Scope of the reports
Reports issued are guided by the International Integrated Reporting Framework (IIRF) and the King IV Report on Corporate Governance for South Africa 2016.
Materiality
The Companies acknowledge materiality as being a key concept of the IIRF. The following list of material issues, which will have an impact on the sustainability of our business, have been identified:
- Passionate support from fans
- Strong foundation for development of players
- Winning teams
- Sound leadership and management
- Commercially sound company
Assurance
The Companies present the summary financial statements, which have been prepared from the audited annual financial statements as prescribed by the IIRF, and in the manner required by the Companies Act 71 of 2008 of South Africa. The full audited financial statement can be obtained from the Companies’ website. Appointed external auditors, annually expressed their opinion for the year in review.
Forward-looking statements
The content of our integrated annual report may contain ‘forward -looking statements’ which are statements related to expected future, not past, events.
When reading the report, it should be taken into consideration that forward-looking statements often refer to our expected future business, financial performance and financial condition. This may include terms or references such as ‘expect’, ‘aim’, ‘anticipate’, ‘intend’, ‘plan’, ‘believe’, ‘seek’, ‘see’, ‘will’, ‘would’, or ‘target’.
Readers of the integrated report are to read this as intention and not rely on these forward-looking statements as fact. The Companies do not accept any responsibility for updating any forward-looking statement.
Approval of our integrated annual reports
The Audit and Risk Committee recommends the annual financial statements and the integrated annual report for approval to the Board of Directors.
The Board of Directors confirmed that they have assessed the content of the report and have approved it for release to shareholders.
The Board acknowledges its responsibility for the integrity of the annual integrated report and it has applied its collective mind in the preparation and presentation of the Companies’ Annual Integrated Reports.
The Board is of the opinion that the report addresses all material issues and fairly represents the integrated performance of the Lions Cricket Union.
Click on links below for previous annual reports: