Unformatted text preview: f the risk management
framework. The Chief Executive Officer and Chief Financial Officer are responsible for developing and monitoring
risk management policies.
Risk management policies are established to identify and analyse the risks faced by the Group, to set out appropriate
risk limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems are
reviewed regularly to reflect changes in market conditions and the Group’s activities. The Group, through training
and management standards and procedures, aims to develop a disciplined and constructive control environment in
which all employees understand their roles and obligations.
The Group Audit Committee oversees how management monitors compliance with risk management policies and
procedures and reviews the adequacy of the risk management framework in relation to the risks faced.
Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to
meet its contractual obligations, and arises principally from the...
View Full Document
- Spring '14
- Wellcom Group, Wellcom Group Limited