CORPORATE GOVERNANCE & SUSTAINABILITY | CORPORATE GOVERNANCE Accountability and Audit The Company is committed to developing and maintaining Financial Reporting high professional and ethical standards. These are reflected in the rigorous selection process and career development The Board acknowledges its responsibility for: plans for all employees. The organisation prides itself on • the proper stewardship of the Company’s affairs, to being a long-term employer which instills in individuals, as ensure the integrity of financial information they progress through the Group, a thorough understanding • preparing annual and interim financial statements and of the Company’s ways of thinking and acting. other related information that give a true and fair view of Channels of communication are clearly established, the Group’s affairs and of its results and cash flows for allowing employees a means of communicating their views the relevant periods, in accordance with Hong Kong upwards with a willingness on the part of more senior Financial Reporting Standards and the Hong Kong personnel to listen. Employees are aware that, whenever Companies Ordinance the unexpected occurs, attention should be given not only • selecting appropriate accounting policies and ensuring to the event itself, but also to determining the cause. that these are consistently applied Through the Company’s Corporate Code of Conduct, • making judgements and estimates that are prudent employees are encouraged (and instructed as to how) to and reasonable report control deficiencies or suspicions of impropriety to • ensuring that the application of the going concern those who are in a position to take necessary action. The assumption is appropriate Company has a Whistleblowing Policy and system for Risk Management and Internal Control employees and those who deal with the Group to raise The Board acknowledges its responsibility to establish, concerns, in confidence and with anonymity, where maintain and review the effectiveness of the Group’s risk desired, about actual or suspected cases of impropriety in management and internal control systems. This any matter related to the Group. The policy is available on responsibility is primarily fulfilled on its behalf by the the Company’s website. Audit Committee as discussed on pages 103 to 104. The Company has an Anti-Bribery and Corruption Policy The foundation of strong risk management and internal which sets out the Company’s policy and systems that control systems is dependent on the ethics and culture of promote and support compliance with applicable anti- the organisation, the quality and competence of its bribery and corruption laws and regulations, and enhances personnel, the direction provided by the Board, and the the provisions relating to bribery and corruption in the effectiveness of management. Company’s Corporate Code of Conduct. The policy is available on the Company’s website. Since profits are, in part, the reward for successful risk Risk assessment: The Board of Directors and the taking in business, the risk management and internal management each have a responsibility to identify and control systems are designed to manage rather than analyse the risks underlying the achievement of business eliminate the risk of failure to achieve business objectives objectives, and to determine how such risks should be and can only provide reasonable and not absolute managed and mitigated. assurance against material misstatement or loss. The key components of the Group’s control structure are Management structure: The Group has a clear as follows: organisational structure that, to the extent required, delegates the day-to-day responsibility for the design, Culture: The Board believes that good corporate documentation and implementation of procedures and governance reflects the culture of an organisation. This is monitoring of risk. Individuals appreciate where they will be more significant than any written procedures. held accountable in this process. The Company aims at all times to act ethically and with integrity, and to instill this behaviour in all its employees by example from the Board down. The Company has a Corporate Code of Conduct, which is posted on its website. 102