The Company is committed to ensuring that shareholders and the market are provided with full and timely  information and that all stakeholders have equal opportunities to receive externally available information issued  by the Company. The Company’s “ASX Disclosure Policy” described in 5(a) reinforces the Company’s commitment  to continuous disclosure and outline management’s accountabilities and the processes to be followed for  ensuring compliance. The policy also contains guidelines on information that may be price sensitive. The Company Secretary has  been nominated as the person responsible for communications with the ASX. This role includes responsibility for  ensuring compliance with the continuous disclosure requirements with the ASX Listing Rules and overseeing and  coordinating information disclosure to the ASX. The Board is responsible for ensuring there are adequate policies in relation to risk management, compliance and  internal control systems. The Company’s policies are designed to ensure strategic, operational, legal, reputation  and financial risks are identified, assessed, effectively and efficiently managed and monitored to enable  achievement of the Company’s business objectives. A written policy in relation to risk oversight and management  has been established (“Risk Management and Internal Control Policy”). Considerable importance is placed on  maintaining a strong control environment. There is an organisation structure with clearly drawn responsibilities. The Board is responsible for approving and overseeing the risk management system. The Board reviews, at least  annually, the effectiveness of the implementation of the risk management controls and procedures. The principle aim of the system of internal control is the management of business risks, with a view to enhancing  the value of shareholders’ investments and safeguarding assets. Although no system of internal control can  provide absolute assurance that the business risks will be fully mitigated, the internal control systems have been  designed to meet the Company’s specific needs and the risks to which it is exposed.  Annually, the Board is responsible for identifying the risks facing the Company, assessing the risks and ensuring  that there are controls for these risks, which are to be designed to ensure that any identified risk is reduced to an  acceptable level.  The Board is also responsible for identifying and monitoring areas of significant business risk. Internal control  measures currently adopted by the Board include: •  monthly reporting to the Board in respect of operations and the Company’s financial position, with a  comparison of actual results against budget; and •  regular reports to the Board by appropriate members of the management team and/or independent advisers,  outlining the nature of particular risks and highlighting measures which are either in place or can be adopted  to manage or mitigate those risks. 6(a) Board oversight of the risk management system 6. RECOGNISING AND MANAGING RISK 5(b) Continuous disclosure policy 5. TIMELY AND BALANCED DISCLOSURE (CONTINUED) 47  CORPORATE GOVERNANCE STATEMENT