Risk Management Policy
Infigen Energy ("Infigen") has adopted a Risk Management Policy, consistent with leading risk management standards including International Standard ISO 31000 (based on AS/NZS 4360:2004), which clearly define responsibilities for managing risk under the Infigen's risk management framework.
Infigen's Risk Management Policy aims to establish a sound system of identifying, analysing, evaluating, treating, monitoring and communicating risk. The Policy is intended to:
- Provide a framework for identifying, assessing, monitoring and managing risk;
- Communicate the roles and accountabilities of participants in the risk management system; and
highlight the status of risks to which Infigen is exposed.
Specific matters covered in the Policy include:
- The Infigen risk management framework, including the roles of the Board and specific senior managers responsible for implementing and managing the risk management framework;
- In relation to Infigen's status as a listed entity, Infigen's management of its responsibilities concerning the risk management principles outlined in the ASX Corporate Governance Council’s Principles of Good Corporate Governance and Best Practice Recommendations;
- Procedures relating to identifying, assessing and managing risks to the business;
- Management of the residual risks and maintaining a top risk register, functional risk register and action plans including mitigating identified risks;
- Regularly reporting these residual risks to senior management, the Audit, Risk & Compliance Committees, and the Infigen Boards; and
- The role of the external Auditor in assessing the overall management of risk and key internal control systems by Infigen.