Principle 6: Respect rights  of shareholders IOOF recognises the right of shareholders  to be informed of matters, in addition  to those prescribed by law, which affect  their investments in the company. IOOF  communicates shareholder information  and news about the company through  the annual report, disclosures to the ASX, ASIC and via the company’s website. The Board encourages active  participation by shareholders at any  company meetings. IOOF ensures that the Company’s auditor  attends the annual general meeting  or other meetings of the Company  and shareholders are afforded the  opportunity of asking the Company’s  auditor questions regarding the conduct  and content of the audit. A shareholder  may submit a question to the auditor  prior to the meeting by emailing the  Company Secretary. is responsible for reviewing all aspects  of risk and compliance on behalf of  the Board. In addition, this Committee  ensures all correspondence and action  plans required by the Company as a result of reviews by the Company’s  regulators are completed in a timely  manner. The committee comprises three  independent non-executive Directors,  members from the legal, compliance and internal audit and risk management  team of the business and a representative  from each operating business within the Group. The Group Head of Risk  reports to the Committee on the  monitoring of risk through the business  and risk reporting through the enterprise-wide framework including  where appropriate, positive assurance. level of assurance and do not imply a  guarantee against adverse events or more  volatile outcomes arising in the future.  In addition, the report sets out that risk  management and internal compliance  and internal control systems are subject  to periodic declaration by process owners  and review through the Company’s  internal audit process and by regulators. The Company has established a number  of other policies which include, but are  not limited to, the Delegations Policy, IT  Code of Conduct, Anti-Money Laundering  and Counter-Terrorism Policy, Complaints  and Breach Reporting Policy, Risk  Management Plan and Risk Management  Policy, Capital Adequacy, Outsourcing  Policy and the Fit and Proper Policy. This Committee meets at least quarterly  and reports to the Board and provides  minutes of the Committee meeting and  relevant reports to the Audit Committee to  ensure all committees are fully informed. The Board recognises that effective  management of risk is an integral part of sound management and is vital to the continued growth and success of IOOF. The Board is ultimately  responsible for the oversight of the IOOF  Group’s risk management and control  framework and has implemented a policy  framework designed to ensure that the  Group’s risks are identified, analysed,  evaluated, monitored and communicated  within the organisation or to any relevant  external party and that adequate controls  and mitigation processes in place  function effectively. In addition to the Audit Committee,  the Board has established a Risk and  Compliance Committee (RCC), which  The Managing Director and the Chief Financial Officer report in writing to the Board that to the best of their  knowledge and belief, the statement  given in accordance with best practice  recommendation 4.1 is founded on a  sound system of risk management and  internal compliance and control which is operating efficiently and effectively in all material respects in so far as  they relate to financial, strategic and  operational risks. This report confirms  that the system which implements  the policies adopted by the Board  either directly or through delegation to  Management and that the Company’s risk  management and internal compliance  is operating effectively in all material  respects as at the date of the report,  based on the risk management model  adopted by the Board. The statements  provide a reasonable, but not absolute,  The Board has an agreed procedure when sourcing external assistance or independent advice at the expense of the company. The remuneration policy objective  of IOOF is to ensure that employee  emoluments properly reflect the person’s  duties and responsibilities and is designed  to attract, retain and motivate executives  of the highest quality and standard. The level of remuneration of Directors  and Executives is set out in the Director’s  Report and Notes to the Financial  Report. The Board has established a  Group Remuneration and Nominations  Committee which reviews compensation  arrangements for the Managing Director  and Executives including an assessment  of an individual’s performance, a review of  market rates for similar positions and the  results of the Company during the period. Principle 8: Remunerate  fairly and responsibly Principle 7: Recognise and  manage risk page 16 This statement is dated  28 September 2012.