Risk and Compliance Committee (continued) Management carries out risk specific management activities in six broad families:  Production Risks  – the risks associated with producing the volume and quality of cattle, beef and crops Strategic Risks  – the risks associated with determining the direction of the business Financial Risks  – the risks associated with the volatility in commodity prices, availability of funding and counterparty credit Commercial and Asset Continuity Risks  – the risks associated with on-going business operations Legal and Compliance Risks  – the risks associated with breaches of the law and regulations People and Culture Risks  – the risks associated with the employment of staff Workplace Health And Safety Representation & Reporting Accreditations, Industry Codes, Licences and Food Safety  Animal Welfare Environmental Reputation & Brand Market Development and Access  Board approval of a strategic plan, which encompasses the Company’s vision, mission and strategy statements, designed to meet  stakeholders’ needs and manage business risk. Implementation of Board approved operating plans and budgets and Board monitoring of progress against these budgets. The Board approved Risk Management Policy (published on the Company’s website);  The consolidated Enterprise Risk Register, detailing key strategic, operational, financial, commercial and asset continuity, legal and compliance  and people and culture risk factors; The Risk and Compliance Committee; and An internally managed Quality Management System including a detailed set of policies and procedures for Company activities.  Their view provided on the Company’s financial report is founded on a sound system of risk management and internal compliance and control  which implements the financial policies adopted by the Board. The Company’s risk management and internal compliance and control system is operating effectively in all material respects. To assist stakeholders in understanding the nature of the risks faced by the Company, the Board has prepared a list of key risks, taken from within  the risk families identified above, as part of this Principle 7 disclosure. This list is not exhaustive, and will be subject to change based on underlying  market events. The key risks are: The Board has a number of mechanisms in place to ensure that Management’s objectives and activities are aligned with the risks identified by the  Board. These include the following: The Chair of the Risk and Compliance Committee liaises with the Chair of the Audit Committee on those matters where both Committees have  common responsibilities which include risk management, compliance and internal control. The Chair of the Audit Committee has a standing  invitation to attend each Risk and Compliance Committee meeting. Currently the Chair of the Audit Committee, Mr S. Black, is also a member of the  Risk & Compliance Committee. In accordance with section 295A of the Corporations Act, the Managing Director/CEO and CFO have provided a written statement to the Board that: The Board agrees with the views of the ASX on this matter and notes that due to its nature, internal control assurance from the Managing Director/ CEO and CFO can only be reasonable rather than absolute. This is due to such factors as the need for judgment, the use of testing on a sample  basis, the inherent limitations in internal control and because much of the evidence available is persuasive rather than conclusive and therefore is  not, and cannot be, designed to detect all weaknesses in control procedures. In response to this, internal control questions are required to be completed by the key management personnel of all significant business units,  including finance managers, in support of these written statements. Annual Report 2013 47 CEO and CFO Certification The Board approved Risk Management Framework includes the following elements: