Page 41 - Bauxite Resources Annual Report 2014

Annual Report 2014 Bauxite Resources | 39
CORPORATE GOVERNANCE STATEMENT
Corporate Governance Statement cont.
39 Bauxite Resources Annual Report 2014
ASX Principle Status Reference/comment
ï‚· has at least three members A Refer comments above
4.3 The audit committee should have a formal
charter
A Refer Company Website
4.4 Companies should provide the information
indicated in the Guide to reporting on
Principle 4
A Refer comments above
Principle 5: Make timely and balanced disclosure
5.1 Companies should establish written policies
designed to ensure compliance with ASX
Listing Rule disclosure requirements and to
ensure accountability at a senior executive
level for that compliance and disclose those
policies or a summary of those policies
A The company has formulated a Continuous Disclosure Policy,
which can be viewed on its website.
5.2 Companies should provide the information
indicated in the Guide to reporting on
Principle 5
A
Principle 6: Respect the rights of shareholders
6.1 Companies should design a
communications policy for promoting
effective communication with shareholders
and encouraging their participation at
general meetings and disclose their policy
or a summary of that policy
A The Company has formulated a Shareholders Communication
Policy which can be viewed on the Company website.
6.2 Companies should provide the information
indicated in the Guide to reporting on
Principle 6
A
Principle 7: Recognise and manage risk
7.1 Companies should establish policies for the
oversight and management of material
business risks and disclose a summary of
those policies
A The Company has formulated a Risk Management and Internal
Compliance & Control Policy which can be viewed within its
Corporate Governance policies on its website.
7.2 The Board should require management to
design and implement the risk management
and internal control system to manage the
company’s material business risks and
report to it on whether those risks are being
managed effectively. The Board should
disclose that management has reported to it
as to the effectiveness of the company’s
management of its material business risks
A
7.3 The Board should disclose whether it has
received assurance from the chief executive
officer (or equivalent) and the chief financial
officer (or equivalent) that the declaration
provided in accordance with section 295A
of the Corporations Act is founded on a
sound system of risk management and
internal control and that the system is
operating effectively in all material respects
in relation to financial reporting risks
A The Board has received the required assurance and declaration.
7.4 Companies should provide the information
indicated in the Guide to reporting on
A