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Board of Directors

Responsibility for the Company’s corporate governance rests with our non-executive board or directors. The Board’s guiding principle in meeting this responsibility is to act honestly, conscientiously and fairly, in accordance with the law, in the interests of inTechnology’s Management (with a view to building sustainable value for them) and those of the employees.

The Board also approves company goals and directions, strategic plans and performance targets, and ensures that appropriate policies, procedures and systems are in place to manage risk, optimise business performance and maintain high standards of ethical behaviour and legal compliance.

The Board’s Broad Function Is To:
  • chart strategy and set financial targets for the company;
  • identify principal risks of the company’s business;
  • monitor the implementation and execution of strategy and performance against financial and non-financial targets; and
  • appoint and oversee the performance of executive management and generally to take and fulfil an effective leadership role.
Power and authority in certain areas is specifically reserved to the board – consistent with its function as outlined above.
These areas include:
  • composition of the board itself including the appointment and removal of directors;
  • oversight of the company including its control and accountability system;
  • appointment and removal of senior management including the Managing Director, Chief Financial Officer and Company Secretary;
  • reviewing and overseeing systems of risk management and internal compliance and control, codes of ethics and conduct, and legal and statutory compliances;
  • monitoring senior management’s performance and implementation of strategy; and
  • approving and monitoring financial and other reporting and the operation of committees.
  • code of conduct for Directors, executives and employees
  • formalised in a detailed code of ethics and values 

These initiatives, together with other matters provided for in the Board’s charter, are designed to “institutionalise” good corporate governance and generally build a culture of best practice in inTechnology Distributions’s own internal practices and in its dealings with others.

Meetings are held at least twelve times each year. A broad agenda is laid down for each regular meeting according to an annual cycle.

The company performs a variety of functions relevant to risk management and internal and external reporting and reports to the Board following each meeting.

Among Other Matters For Which The Committee Will Be Responsible For Are The Following:

  • oversee the Company’s financial reporting process on behalf of the Board;

  • assessment of accounting, financial and internal controls;

  • corporate risk assessment and compliance with internal controls;

  • internal audit function and management processes supporting external reporting;

  • review of the effectiveness of the audit function;

  • appointment of external auditors and scope of external audit and

  • compliance with laws and regulations.

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