Policy, and aims to ensure that
major business risks facing the
Company have been consistently
identified, analysed and
evaluated, and that active
management plans and controls
are in place for the ongoing
management of these risks.
Independent validation of
controls is undertaken by
internal audit as part of its risk
based approach. The internal
audit function is independent of
the external auditor and reports
to the Audit Committee. 
The CEO and CFO have stated 
to the Board in writing that: 
• the Consolidated Financial
Report is founded on a sound
system of risk management
and internal compliance and
control systems, which
implements the policies
adopted by the Board; and
• the Company’s risk
management and internal
control systems, to the extent
they relate to financial
reporting, are operating
efficiently and effectively in
all material respects.
The Board has in place a number
of arrangements and internal
controls intended to identify 
and manage areas of significant
business risk. These include 
the maintenance of:
• Board Committees; 
• detailed and regular
budgetary, financial and
management reporting; 
• established organisational
structures, procedures,
manuals and policies; 
• audits (including internal and
external financial,
environmental and safety
audits);
• comprehensive insurance
programmes; and 
• the retention of specialised
staff and external advisors.
Examples of management of
specific risks are as follows:
• MANAGEMENT OF
ENVIRONMENTAL AND SAFETY
RISK – environmental and
safety risk is managed
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