The Board determines the Company’s ‘risk profile’ and is responsible for overseeing and approving risk management strategies and internal compliance and control in the interests of protecting and promoting shareholder value.
- establishing and monitoring the Company’s strategies, goals and objectives
- identifying and measuring risks that might impact on the achievement of those strategies, goals and objectives
- formulating risk management strategies to manage the identified risks
- monitoring and improving the effectiveness of risks and internal compliance controls.
The Board acknowledges that the development of sound risk management policies and procedures is an ongoing process that will continue as the Company grows.