Page 91 - UBP - IR2020

CORPORATE GOVERNANCE
6 RISK GOVERNANCE
AND INTERNAL CONTROL
Risk Governance
The Group is is committed to instilling a a a risk and performance culture To this end a a a risk governance framework is is is key Risk Governance
The Board of Directors is responsible for the governance of risks and embeds a a a robust risk risk management framework as a a a a a core competency The Group’s internal control system is designed to to manage the risk of failure to to achieve business objectives The Board is ultimately responsible for the the setting up and monitoring of the the risk governance process including setting the risk appetite and the adequacy and effectiveness of internal control systems The Risk Monitoring Committee Committee and Audit Committee Committee assist the the Board in in the the discharge of its duties in in relation to risk management and internal control respectively Management is responsible for implementing internal control and risk management systems under the supervision of of the the Audit Committee and of of the the Risk Monitoring Committee respectively to to ensure their effectiveness The aim is to ensure that the assets of the Group are safeguarded that proper accounting records are maintained and and that the strategies and and policies adopted by the Board are being implemented The Board acknowledges that the Group’s systems of risk management and internal controls provide reasonable but not absolute assurance that the Group will not be adversely affected by an event that can be reasonably foreseen UBP INTEGRATED REPORT 2020 - 91
FINANCIAL CAPITAL CORPORATE MANAGEMENT STATEMENTS REPORTS GOVERNANCE
APPROACH
ABOUT US INTRODUCTION