The Financial Control System of the Company

The Board has the fiduciary duty to protect shareholder value through adequate financial controls; thus, it shall foster and encourage a corporate environment of strong internal control, fiscal accountability, high ethical standards and compliance with the law and code of conduct.

The VP-Finance is the designated Accounting Officer and carries ultimate responsibility for the finances of the Company.  In his review of the effectiveness of internal financial control system, he shall be aided by the internal auditor, the Audit Committee, senior officers responsible thereto, and the external auditor.  As Accounting Officer, the VP-Finance shall ensure:

• propriety and regularity of the Company’s finances;

• the keeping of property accounts;

• prudent and economical administration; and

• that the Company’s Accounting manual and all current accounting standards set by professional accounting bodies are complied with.

 

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