CORPORATEGOVERNANCE
REPORT
Sustainability
Basedon theERM Framework
established, reviews carriedout
by theAC, theworkperformed
by the internal andexternal
auditors and assurance from the
Management, theBoard, with the
concurrenceof theAC, is of the
opinion that the internal controls
and riskmanagement systems
maintainedbyManagement during
thefinancial year andup to the
dateof this report are adequate
andeffective in addressing the risks
relating tofinancial, operational,
compliance and information
technology controls and tomeet
thecurrent scopeof theGroup’s
business operations. TheBoard
notes that no systemof internal
controls is capableof providing
absolute assurance against the
occurrenceofmaterial errors,
poor judgment indecision-making,
humanerror, losses, fraudor
other irregularities.
risk evaluation andmitigating
controls.Managementwill
regularly review the key risks, both
existing andemergingnew risks;
determine the keyowners for the
risks identified; ensuring treatment
measures formitigating these
risks arepromptly andproperly
implemented; andensuringpolicies
andcontrols arecompliedwith.
Management reports to theAC
on aquarterlybasis. Appropriate
mitigating actions inmanaging the
key risks, aswell as actionplans to
address thegaps areconsidered
anddocumented.
TheERM Framework is
complementedby theGroup’s
systemof internal controls, which
includes theCodeof Conduct,
documentedpolicies and
procedures, proper segregationof
duties, approval procedures and
authorities aswell as checks-and-
balances built into thebusiness
processes.
For 2017, theBoardhas received
assurances from theCEO and the
CFO that thefinancial records have
beenproperlymaintained and the
financial statements give a true and
fair viewof theGroup’s operations
andfinances, and theGroup’s risk
management and internal control
systems are adequate andeffective.
BAKER
Technology
L IMI TED
THE BE ST
I N US
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