Financial Reporting
The Board, through its Audit Committee, has implemented steps to assist in the verification and safeguarding the integrity of the Company financial reporting system. The steps adopted are the imposition of a requirement (which has now become law) for the Chief Executive Officer and General Manager - Finance (who performs the function of a chief financial officer) to verify the accuracy, correctness and compliance with accounting standards and statutory regulation of the accounts. That written verification is supported by a similar declaration by members of senior management. The integrity of the financial reporting process is further enhanced by the composition and processes of the Audit Committee that has been structured and established in accordance with the ASX Guidelines.
Market Disclosure
The Company has been a disclosing entity since January 2000. Prior to listing on the ASX, the Company had a continuous disclosure obligation pursuant to an undertaking given to ASIC as part of the capital raising in January 2000. The Company is now under continuous and periodic disclosure obligations to the ASX as well as its statutory obligations. To enable the Company to properly disclose it has adopted a Compliance Policy and procedures. In brief terms, the policy provides for a process of notification of matters that may be required to be disclosed to the market. The Company Secretary is the appointed Compliance Officer. The Company Secretary is also responsible for the disclosure to the ASX, as well as disclosure pursuant to the statutory obligations. The Company Secretary regularly reports to the Board and the Audit Committee as to the performance of those obligations. There have been no departures from the policy. The announcements made to the ASX to date are available on both the ASX and the Company websites. |
