|
Corporate
Governance
The Board of Directors is accountable to shareholders for the proper corporate governance of the Company. The principles of corporate governance and a code of best practices are set forth in the Combined Code on Corporate Governance (the “Combined Code”). Under the rules of the AIM market. where the Company’s shares are listed, the Company is not required to comply with all provisions of the Combined Code. However, the Company intends, where practicable, to comply with the main provisions of the Combined Code. The responsibilities of the Board of Directors and Committees of the Board are set forth in greater detail under the links below.
BOARD OF DIRECTORS
AUDIT COMMITTEE
REMUNERATION COMMITTEE
CORPORATE GOVERNANCE & NOMINATING COMMITTEE
INTERNAL CONTROLS
The Board of Directors is ultimately responsible for the Company’s system of internal controls and for
reviewing and monitoring its effectiveness. The Company maintains a comprehensive process of
financial reporting. The annual budget is reviewed and approved by the Board of Directors before being
fully adopted. The Board presently receives a monthly report of the Company’s operating performance
compared against both the budget and the prior year’s results with explanations of significant variances.
The effectiveness of the Company’s internal controls is the responsibility of the Chief Financial Officer.
The maintenance, review and improvement of the Company’s internal controls is the responsibility of the
Chief Financial Officer. The external auditors review the internal financial controls as a basis for
determining the nature and extent of their audit testing procedures.
|
