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Estate Agency Affairs 2013/2014 Annual Report: Regulating Excellence

This annual report provides insights into the activities and financial performance of the Estate Agency Affairs Board for the fiscal year 2013/2014. It presents the organization's mandate, vision, mission, corporate governance structure, operational overview, and financial statements. Key focus areas include regulating estate agent conduct, issuing fidelity fund certificates, and enhancing industry integrity. The report also highlights strategic plans for the upcoming year to strengthen regulatory measures and improve consumer protection.

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Estate Agency Affairs 2013/2014 Annual Report: Regulating Excellence

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  1. Estate Agency Affairs Board ANNUAL REPORT AND FINANCIAL STATEMENTS 2013/2014 Bryan Chaplog (CEO) Silence Mmotong (CFO) Nikita Sigaba (CRO)

  2. PRESENTATION OVERVIEW • Mandate • Vision & Mission • Organizational Structure • Corporate Governance Report • Operational Report • Integrated Human Capital Report • Annual Financial Statements • Performance Information Report • Audit Report • Year Ahead

  3. MANDATE • Primary Mandate of EAAB • Regulate, maintain and promote the standard of conduct of estate agents having due regard to the public interest; • Issue fidelity fund certificates to qualifying applicants; • Prescribe the standard of training of estate agents; • Investigate complaints against estate agents and institute disciplinary proceedings against offending estate agents where required; and • Manage and control the Estate Agents Fidelity Fund. • Secondary mandate • The EAAB is the Supervisory Body of the estate agency profession pursuant to the Financial Intelligence Centre Act and is obliged to take all steps required to prevent; alternatively, identify and report on, anti-money laundering and terrorist financing activities

  4. VISION & MISSION VISSION To be a world class regulator that is responsive to and surpass its stakeholder expectation MISSION To ensure that the integrity of the transaction between the estate agent and consumer is of a high standard by regulating, protecting, guiding and enhancing the conduct of real estate agents’ profession in South Africa.

  5. CORPORATE GOVERNANCE REPORT • BOARD COMPOSITION • Executive Authority = Department of Human Settlements • Accounting Authority = Board (15 Board Members) • 5 members representing estate agents industry • 5 members from civil society representing the interest of consumers • 5 members from related professions and institutions such as legal, financial, property owners

  6. CORPORATE GOVERNANCE REPORT • BOARD COMMITTEES • Chairman’s committee (10 members) • Audit and Risk Committee (6 members) • Finance Committee (5 members) • HR and Remunerations Committee (6 members) • Education & Training Committee (6 members) • Legal and Claims Committee (6 members) • Social and Ethics Committee (6 members) • Transformation Committee (7 members)

  7. Draft and Confidential

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  10. Draft and Confidential

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  12. Draft and Confidential

  13. OPERATIONAL OVERVIEW

  14. OPERATIONAL OVERVIEW

  15. OPERATIONAL OVERVIEW

  16. OPERATIONAL OVERVIEW

  17. OPERATIONAL OVERVIEW

  18. OPERATIONAL OVERVIEW

  19. INTEGRATED HUMAN CAPITAL REPORT

  20. INTEGRATED HUMAN CAPITAL REPORT

  21. INTEGRATED HUMAN CAPITAL REPORT

  22. ANNUAL FINANCIAL STATEMENTS

  23. ANNUAL FINANCIAL STATEMENTS • TRENDS • Income • Revenue from issue of FFC declined due to some estate agents still battling with complying with audit report requirements • Revenue from exams increased due to more estate agents enrolling for exams to meet the regulations deadline

  24. ANNUAL FINANCIAL STATEMENTS • TRENDS • Expenditure • Operating expenditure decreased due to less inspections performed • Staff costs decreased due to recoupment/reversal of the losses in the pension fund scheme

  25. ANNUAL FINANCIAL STATEMENTS

  26. ANNUAL FINANCIAL STATEMENTS • RATIOS

  27. ANNUAL FINANCIAL STATEMENTS • FIDELITY FUND

  28. KEY PERFORMANCE ANNUAL TARGETS –

  29. KEY PERFORMANCE ANNUAL TARGETS –

  30. KEY PERFORMANCE ANNUAL TARGETS –

  31. KEY PERFORMANCE ANNUAL TARGETS –

  32. AUDIT REPORT

  33. AUDIT REPORT JOURNEY

  34. YEAR AHEAD • KEY PLANS FOR 2014/2015 • Establish regional centers • Participate in finalizing the Property Practitioners Bill • Intensify the consumer awareness campaigns • Increase inspections

  35. THANK YOU Draft and Confidential

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