Corporate Governance

7. Recognize and Manage Risk

Risk Management and Internal Compliance and Control
The Board determines the Consolidated Entity’s ‘risk profile’ and is responsible for overseeing and approving risk management strategy and policy.

This includes:

• establishing and monitoring the Consolidated Entity’s strategies, goals and objectives
• identifying and measuring risks that might impact upon 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.

8. Encourage Enhanced Performance

Performance Evaluation
The Board, through the Chairman, will carry out an evaluation, at least every three years, to:

• review the role of the Board
• assess the performance of the Board with a view to assisting the Board to better perform its duties
• review the type and timing of information provided to directors
• review the performance and contribution of each of the non-executive directors.

The Board may, from time to time, use an independent adviser to assist in the reviews.

Managing Director / Chief Executive Officer
The Board will annually review the performance of the Managing Director having regard to performance measures set out at the commencement of each year. These will include financial measures, achievement of strategic objectives and other key performance indicators, and compliance.

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