Managing risks associated with its various activities helps Brickworks to protect its employees, shareholders, the environment, our assets and earnings, our markets and our reputation.
You can find specific risk management and internal control policies in the Brickworks Group policy manual. Our policies assist the Board to manage risks in areas such as health and safety, environmental issues, industrial relations, insurance and legal matters. Certain risk management techniques, including foreign currency and interest rate hedging, may only be undertaken where approved by the full Board of directors.
The Board requires the Managing Director and Chief Financial Officer to sign off (via the Audit Committee) on risk management and internal compliance and control systems implemented by the Board. Sign-off also implies that these compliance and control systems are operating efficiently and effectively in all material respects.
Brickworks maintains an internal audit function, which reports to the audit committee, that has responsibility to review the ongoing operation of the internal compliance and control systems and report breaches of these systems to the audit committee and senior management.