text: **The primary responsibilities of the Board include:**
  
  **•**
  **•**
  
  Establishing Mermaid’s goals and developing strategic plans to achieve them; 
  
  The review and adoption of annual budgets and cashflow forecasts for the financial 
  
  performance of Mermaid and monitoring the results on an ongoing basis; 
  
  **•**
  **•**
  
  Identifying business risks and implementing actions to manage those risks; 
  
  Developing an effective management and corporate system to ensure safety, quality, 
  
  measure progress and exercise control; 
  
  **•**
  Ensuring the employment and further development of efficient and qualified staff for 
  
  the growth of the Company’s business consistent with industry leadership; 
  
  **•**
  Identifying and developing strategic relationships for growth and access to specialist 
  
  expertise; and 