Page 52 - OneVue Annual Report 2015
P. 52
electronically, thereby facilitating a more effective, • impact on the Company’s performance
efficient and environmentally friendly communication
mechanism with shareholders. Shareholders can • affect the health, safety or welfare of employees
receive Notices of meetings, annual reports and other and others in relation to the Company’s operations
correspondence by electronic delivery and also can
lodge their proxies electronically. • threaten compliance with the Company’s regulatory
and legal obligations
Principle 7- Recognise and manage risk
• impact on the Company’s reputation, or that of its
Recommendation 7.1 people
The Board should have a Committee/s to • result in personal liability for Company officers
oversee risk, which has at least three members, arising from the Company’s operations.
a majority of whom are independent Directors;
and is Chaired by an independent Director, and Recommendation 7.2
disclose (a) the Charter of the Committee (b) the
members of the Committee; and (c) as at the The Board or a Committee of the Board should:
end of each reporting period, the number of (a) review the entity’s risk management
times the Committee met throughout the period framework at least annually to satisfy itself that it
and the individual attendances of the members continues to be sound; and (b) disclose, in
at those meetings. relation to each reporting period, whether such a
review has taken place.
The Board has established an Audit, Risk
Management and Compliance Committee to assist The Committee reviews the Company’s risk
with risk oversight, risk management and internal management framework at least once a year to ensure
control. The current members of the Committee are that it is still suitable to the Company’s strategy and
set out in Recommendation 4.1 above. operations and reflects the external environment and is
consistent with the Board’s Risk Appetite Statement.
Information relating to the qualifications and
experience of the Committee members and the Senior management is responsible for setting the policy
number of times the Committee met throughout the and procedures to assist with the measurement and
reporting period and the attendance of the members management of the Company' risk profile. The program
are set out in the Directors Report. is designed to ensure risks (strategic, operational, legal,
reputational and financial) are identified, assessed,
The Audit, Risk Management and Compliance addressed and monitored to enable the Company to
Committee Charter sets out the function of the Audit, achieve its business objectives.
Risk Management and Compliance Committee and is
available on the Company's website The management of operational risk and the
www.onevue.com.au/web/onevue/corporate- implementation of mitigation measures remains the
governance in the Corporate Governance section of responsibility of senior management. In essence, senior
the Investor Centre. management:
The Committee assists the Board by providing • reports regularly to the Board on risk management,
independent and objective review, advice and including operational issues and operational losses;
assistance in developing Board policy and monitoring
corporate activity within the scope of its remit, • monitors operational control weaknesses and
making recommendations to the Board for resolution, breakdowns, including fraud; and
and assisting the Board understand risks which may:
• monitors due diligence enquiries conducted for
• impede the Company from achieving its goals and appointment and ongoing monitoring of
objectives outsourced arrangements.
The Board Charter and the Audit, Risk Management and
Compliance Committee Charter each make provision
for the Managing Director and Chief Financial Officer to
provide assurance as to whether material business risks
are being managed effectively.
52 – ONEVUE ANNUAL REPORT
