We fulfil our responsibility to employees, investors, host communities and the general public by governing our company with transparency, integrity and accountability. A comprehensive framework of corporate governance guidelines and practices operates across the Company. Such corporate governance guidelines and practices comply with the revised “Corporate Governance Principles and Recommendations”, 3rd edition, released by the ASX Corporate Governance Council.
Our corporate governance practices are set out in the 2014 Annual Report and address key issues, including:• Composition of the board of directors (the Board) and Board committees• Responsibilities of the Board and Board committees• Director independence and integrity• Nomination and remuneration of directors and executives• Ethical business conduct
The Board is ultimately responsible for overseeing the management of the business and affairs of the company and, in doing so, is required to act in the best interests of the company. The Board’s responsibilities include: • Overseeing and approving the strategic direction• Reviewing and approving audited financial statements and the annual budget• Ensuring effective management processes are in place• Appointing the Managing Director and monitoring management performance• Determining the approach to director and executive remuneration • Ensuring processes are in place to provide for identification, assessment, monitoring, management and reporting of material risks
The Board carries out its responsibilities either directly or through two committees – the Audit and Risk Management Committee and the Nomination and Remuneration Committee.