Risk Management

The entire Board is responsible for overseeing the risk management function. The Company believes that it is crucial for all board members to be a part of the process and as such has not established a risk management committee as a subset of the full board.

The Board is responsible for ensuring the risks and opportunities are identified on a timely basis.

The Board has a number of mechanisms in place to ensure the management's objectives and activities are aligned with the risks identified by the Board. These include the following:

Implementation of Board approved operating plans and budgets;
Board monitoring of progress against these budgets, including the monitoring of key performance indicators of both a financial and non financial nature; and
The establishment of committees to report on specific risk as identified.