Risk Monitoring and Management 

 

Valad has a Risk Management Policy which outlines the oversight and management of material business risks. This policy is supplemented by a risk management framework wherein the risks faced by Valad are regularly identified, monitored and managed.

 

The members of the Risk and Compliance Committee are non-executive directors – Robert Seidler, Andrew Martin Ian Robertson and Kevin McCabe. The Risk and Compliance Committee has a Charter which can be found on the website.

 

All major risks are reported on at quarterly Risk and Compliance Committee meetings and a risk register is regularly updated with any emerging risks and responsibility for managing those risks allocated. Management report to the Risk and Compliance Committee and all major risk and internal control issues are reported to the Board.

 

 

Managing Director’s and Chief Financial Officer’s Certificate

 

The Board receives from the Managing Director, CEO - Europe and the Chief Financial Officer a statement (under s.295A of the Corporations Act) at each relevant Board meeting that:

 

The financial records have been properly maintained in accordance with the Corporations Act;

Valad’s financial reports are complete and present a true and fair view of Valad’s financial position and performance;

The financial statements and notes comply with Accounting Standards and the Corporation Act 2001;

There are reasonable grounds to believe that Valad will be able to pay its debts as and when they become due and payable;

The above statements are founded on a sound system of risk management and internal compliance and control which implements the policies adopted by the Board; and

Valad’s risk management, compliance and controls are operating efficiently and effectively in all material respects.