Internal Control and Risk Management

We maintain a system of internal financial control and risk management in order to provide reasonable, but not absolute, assurance of:

• the maintenance of proper accounting records and the reliability of financial information used within the business and for publication;
• the safeguarding of assets against unauthorised use or disposition; and
• the assessment of areas of risk and managing them in order to achieve the Group's objectives

Our Board regularly reviews the effectiveness of the Group's system of internal controls which include:

• a management reporting system that includes a regular evaluation of our working capital position and financial commitments;
• regular reporting to the Board on financial, treasury and regulatory matters;
• a detailed authorisation process to ensure that no commitments are entered into without appropriate authorisation and that no director participates in any decision in the Group in which he has an interest; and
• ensuring that the business risks to which the Group is exposed are reviewed on a regular basis; in particular regulatory risk and the maintenance of ethical standards