Key Themes for King IV Principle 11
Governance of Risk:
Proactive Management:
Risk Management Process:
Risk Appetite:
Responsibilities:
Communication and Disclosure:
Residual Risk Management:
Continuous Assessment:
Integral to decision-making and duties
Board oversees risk management
Identify, measure, prioritize, respond, and monitor risks
Defined by the Board
Ongoing risk identification and assessment
Residual risk assessed by Risk and Compliance Committee
Key risk areas and mitigating actions disclosed in Integrated Annual Report
Proactively managing risks and opportunities
Delegated to Risk and Compliance Committee
Linked to corporate strategy and objectives
Internal and external risks considered
Categorized into Strategy, Financial, Operations, Legal, Regulatory, and Compliance
Management responsible for implementing risk management
Risk framework led by Risk and Compliance Officer
Guides risk-taking in strategy execution
Risk management plan widely disseminated
Risks evaluated based on impact and likelihood
Mitigation plans implemented by management
Escalation to the Board if residual risk is not acceptable
Optimizing business returns
Resource reallocation if necessary for risk mitigation
Transparent communication with stakeholders