When was the last risk evaluation exercise undertaken by management?
As part of its risk oversight role, the board satisfies itself that the necessary steps are taken to foster a culture of risk-adjusted decision-making throughout the Group. The board strives to ensure that risk management is an integral component of the Group’s corporate strategy, culture and value generation process. The board’s view is that risk management should be neither an impediment to the conduct of business nor a mere supplement to the Group’s overall compliance programme. The risk management process is reviewed by the audit committee on behalf of the board and monitored regularly by the chief executive, supported by the company secretary. The Company’s risk management reporting provides knowledge of current and emerging risks, trends and opportunities that may colour strategic decisions. We communicate with regulators, Government, non-governmental organisations and other bodies who have opinions about our business, its future and effects. In January 2010, Rank’s then external
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