Risk Management Policy
Risk is an inherent part of GLG Crop's business, which operates in a highly competitive market sector. GLG Corp is committed to the management of risk as an integral part of its business, focusing on strategies to minimise risk which are regarded as threats to its achievements of objectives and goals.
Read more about our Risk Management Policy here
The objectives of Risk Managements are:
- Improve decision-making, accountability and outcomes
- Integrate risk management into daily operations of the company and its outsourced business partners;
- Consider risk appetite in protecting staff and business assets and strategy execution
Corporate Governance Structure
The management of GLG Corp is responsible to the Board of GLG Corp for the following:
Approving GLG Corp’s risk management policy and its effective implementation;
Endorsement of any changes to the GLG Corp’s risk management framework, including key policies and procedures to reflect new developments;
Monitoring compliance with the endorsed risk management framework through management reporting to the Board of GLG Corp in Board meetings; and
Delegating authority to staff, where appropriate
The Board regularly reviews business risks applicable to the business and ongoing operations. Additionally, the Board considers risk profiles as part of the annual strategy review and budget planning review. The effectiveness of risk management is unavoidably linked to management competence, commitment and integrity, all of which forms the basis of sound Corporate Governance.
The following table summarized the roles and responsibilities of each level in discharging their duties on risk management:
- Document our Top 10 Risks, in sufficient detail for risk management, post workshop
- Develop and implement the annual risk assessment certification process
- Review process to effectively managing these 10 risks that affect the achievement of company’s objectives
- Prepare such reports for review with the SMCbot which eventually go to the Audit Committee of GLG Corp
- Continuously improve our Risk Management Policy
Risk Management Reporting
Our Management Risk Assessment is an enabling tool that highlights key risks.
and categorize such key risks into the above components.
Risk Categories under 3 Groups
GLG Corp's Risk Management Process
GLG Corp Compliance
The Company's Director and management are committed to conducting the Group's business in an ethical manner and in accordance with the highest standards of corporate governance. The Company has adopted and substantially complies with the ASX Corporate Governance Principles and Recommendations (Third Edition) (Recommendations) to the extent appropriate to the size and nature of the Group's operations.
Read more about our Governance Statement here