Internal Control Framework
Your Company's Corporate Governance policy guides its conduct of affairs, while its management team remains committed to the financial and accounting policies, as well as systems and processes. Your Company’s Planning & Review Processes and the Risk Management Framework provide the requisite foundation for internal financial controls concerning its Financial Statements. The preparation is based on significant accounting policies that are carefully selected by the Management and approved by the Audit Committee and the Board. These policies are reviewed and updated from time to time. The key Management reviews these systems, Standard Operating Procedures, and controls and audited by an Internal Audit Team, whose findings and recommendations are reviewed by the Audit Committee and tracked through to implementation.
Your Company has in place adequate internal financial controls concerning the financial statements. Such controls have been assessed during the year, taking into consideration the essential components of internal controls. Based on the results of such an assessment carried out by the key Management, no reportable material weakness or significant deficiencies or operation of internal financial controls, observed. Your Company ensures that regular audit and review processes reinforce the systems on an on-going basis.