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Risk management

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According to the King IV report "risk-management is inseparable from a company's strategic and business procedures". Therefore NWK's board of directors recognises and accepts its responsibility and duty to ensure that a risk-management plan is developed and maintained.

NWK's board determines the company's risk-appetite, while management develops, implements and assesses the risk-management plan. The board then approves the risk-management plan and ensures the following:

  • That the risk-management plan is formally documented.
  • That the effectiveness of the risk-management plan is assessed constantly.
  • That the implementation of and adherence to the risk-management plan are controlled.
  • That risk assessments are done on an ongoing basis.
  • That risks are managed within the allowable parameters.

Lemmer Vermooten

LEMMER VERMOOTEN
CHAIRMAN: AUDIT AND RISK COMMITTEE

Risk management report 2015

File size: 141KB
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