CORPORATE GOVERNANCE REPORT
%XLOGLQJ 8S )XQGDPHQWDOV r DQQXDO UHSRUW
Guidelines
of the Code
Corporate Governance Practices of the Company
7KH 0DQDJHPHQW SURYLGHV WKH %RDUG DQG %RDUG &RPPLWWHHV ZLWK D FRQWLQXDO ƯRZ RI UHOHYDQW
LQIRUPDWLRQ RQ D WLPHO\ EDVLV LQ RUGHU WKDW LW PD\ HƫHFWLYHO\ GLVFKDUJH LWV GXWLHV
RISK MANAGEMENT AND INTERNAL CONTROLS
3ULQFLSOH 7KH %RDUG LV UHVSRQVLEOH IRU WKH JRYHUQDQFH RI ULVN 7KH %RDUG VKRXOG HQVXUH WKDW 0DQDJHPHQW PDLQWDLQV D
VRXQG V\VWHP RI ULVN PDQDJHPHQW DQG LQWHUQDO FRQWUROV WR VDIHJXDUG VKDUHKROGHUVo LQWHUHVWV DQG WKH FRPSDQ\oV DVVHWV
DQG VKRXOG GHWHUPLQH WKH QDWXUH DQG H[WHQW RI WKH VLJQLƭFDQW ULVNV ZKLFK WKH %RDUG LV ZLOOLQJ WR WDNH LQ DFKLHYLQJ LWV
VWUDWHJLF REMHFWLYHV
Guidelines
of the Code
Corporate Governance Practices of the Company
7KH *URXSoV V\VWHP RI LQWHUQDO FRQWUROV LV GHVLJQHG WR PDQDJH UDWKHU WKDQ HOLPLQDWH WKH ULVN RI
IDLOXUH WR DFKLHYH EXVLQHVV REMHFWLYHV ,W FDQ RQO\ SURYLGH UHDVRQDEOH DQG QRW DEVROXWH DVVXUDQFH
DJDLQVW PDWHULDO PLVVWDWHPHQW RU ORVV 'XULQJ WKH \HDU WKH $& RQ EHKDOI RI WKH %RDUG DQG WKURXJK
WKH DVVLVWDQFH RI LQWHUQDO DQG H[WHUQDO DXGLWRUV KDG UHYLHZHG WKH HƫHFWLYHQHVV RI WKH *URXSoV
LQWHUQDO FRQWURO V\VWHPV DV ZHOO DV LWV ƭQDQFLDO RSHUDWLRQDO FRPSOLDQFH DQG LQIRUPDWLRQ WHFKQRORJ\
FRQWUROV DQG ULVN PDQDJHPHQW V\VWHPV 7KH SURFHVV XVHG E\ WKH $& WR PRQLWRU DQG UHYLHZ WKH
HƫHFWLYHQHVV RI WKH V\VWHP RI LQWHUQDO FRQWUROV DQG ULVN PDQDJHPHQW LQFOXGHV
L
GLVFXVVLRQV ZLWK PDQDJHPHQW RQ ULVNV LGHQWLƭHG E\ PDQDJHPHQW
LL
WKH DXGLW SURFHVVHV
LLL
WKH UHYLHZ RI LQWHUQDO DQG H[WHUQDO DXGLW SODQV DQG
LY WKH UHYLHZ RI VLJQLƭFDQW LVVXHV DULVLQJ IURP LQWHUQDO DQG H[WHUQDO DXGLWV
7KH *URXS KDG HQJDJHG H[WHUQDO FRQVXOWDQWV IURP .30* 6HUYLFHV 3WH /WG LQ
WR VHW XS DQ
(QWHUSULVH 5LVN 0DQDJHPHQW (50 )UDPHZRUN WKH p
ERM Framework
q ZKLFK JRYHUQV WKH ULVN
PDQDJHPHQW SURFHVV LQ WKH *URXS 7KURXJK WKLV IUDPHZRUN ULVN FDSDELOLWLHV DQG FRPSHWHQFLHV
ZRXOG EH FRQWLQXRXVO\ HQKDQFHG 7KH (50 )UDPHZRUN DOVR HQDEOHV WKH LGHQWLƭFDWLRQ SULRULWLVDWLRQ
DVVHVVPHQW PDQDJHPHQW DQG PRQLWRULQJ RI NH\ ULVNV WR WKH *URXSoV EXVLQHVV 7KH ULVN
PDQDJHPHQW SURFHVV LQ SODFH FRYHUV
LQWHU DOLD
ƭQDQFLDO RSHUDWLRQDO FRPSOLDQFH DQG LQIRUPDWLRQ
WHFKQRORJ\ ULVNV IDFHG E\ WKH *URXS 7KH NH\ ULVNV RI WKH *URXS DUH GHOLEHUDWHG E\ WKH 0DQDJHPHQW
DQG UHSRUWHG WR WKH $& 7KH $& UHYLHZV WKH DGHTXDF\ DQG HƫHFWLYHQHVV RI WKH (50 )UDPHZRUN
DJDLQVW OHDGLQJ SUDFWLFHV LQ ULVN PDQDJHPHQW DQG YLV » YLV WKH H[WHUQDO DQG LQWHUQDO HQYLURQPHQW
ZKLFK WKH *URXS RSHUDWHV LQ
&RPSOHPHQWLQJ WKH (50 IUDPHZRUN LV D *URXS ZLGH V\VWHP RI LQWHUQDO FRQWUROV ZKLFK LQFOXGHV
WKH &RGH RI &RQGXFW GRFXPHQWHG SROLFLHV DQG SURFHGXUHV SURSHU VHJUHJDWLRQ RI GXWLHV DSSURYDO
SURFHGXUHV DQG DXWKRULWLHV DV ZHOO DV FKHFNV DQG EDODQFHV EXLOW LQWR WKH EXVLQHVV SURFHVVHV
7R HQVXUH WKDW LQWHUQDO FRQWUROV DQG ULVN PDQDJHPHQW SURFHVVHV DUH DGHTXDWH DQG HƫHFWLYH WKH
$& LV DVVLVWHG E\ YDULRXV LQGHSHQGHQW SURIHVVLRQDO VHUYLFH SURYLGHUV ([WHUQDO DXGLWRUV SURYLGH
UHDVRQDEOH DVVXUDQFH RQ WKH WUXH DQG IDLU SUHVHQWDWLRQ RI WKH *URXSoV ƭQDQFLDO VWDWHPHQWV ,QWHUQDO
DXGLWRUV ERWK RXWVRXUFHG DQG LQ KRXVH SURYLGH DVVXUDQFH WKDW FRQWUROV RYHU WKH NH\ ULVNV RI WKH
*URXS LV DGHTXDWH DQG HƫHFWLYH