Annual Report 2019

ANNUAL REPORT 2019 139 CORPORATE GOVERNANCE REPORT During the year ended 31 March 2019, the Nomination Committee has performed the following major works: • Review of the structure, size and composition of the Board to ensure that it has a balance of expertise, skills and experience appropriate for the requirements of the business of the Company; • Recommendation of the re-appointment of those Directors standing for re-election at the 2018 annual general meeting of the Company; and • Assessment of the independence of all the Independent Non-executive Directors. The attendance records of each Committee member at the Nomination Committee meeting held during the year ended 31 March 2019 are set out in section A.6.2 above. C. DIRECTORS’ RESPONSIBILITIES FOR FINANCIAL REPORTING The Directors have acknowledged their responsibilities for preparing the financial statements of the Company for the year ended 31 March 2019. The Board is responsible for presenting a balanced, clear and understandable assessment of annual and interim reports, inside information announcements and other disclosures required under the Listing Rules and other regulatory requirements. The management has provided such explanation and information to the Board as necessary to enable the Board to make an informed assessment of the financial information and position of the Group put forward to the Board for approval. The Directors are not aware of any material uncertainties relating to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. D. RISK MANAGEMENT AND INTERNAL CONTROL The Board, through its Audit Committee, has the responsibility to ensure that the Group maintains an effective risk management and internal control systems. The Board oversees the Group’s design, implementation and monitoring of the risk management and internal control systems and acknowledges that such systems are designed to manage rather than eliminate the risk of failure to achieve business objectives, and can only provide reasonable and not absolute assurance against material misstatement or loss. The Group’s risk management framework is the responsibility of the Board and is overseen by the Audit Committee. The framework comprises the following elements: Risk management philosophy and risk appetite Everyone within the Group is responsible for the risk management of the Group. Risk management is embedded into the business operations and decision-makings. In pursuing the Group’s objectives, the Group has categorized the risks according to the different business lines and defined the nature and extent of risks that the Group is willing to undertake.