To ensure a high standard of business practice for the Corporation and its stakeholders, the Board has established an annual risk management plan to manage risks considering their impact, and seize opportunities that relate to the achievement of objectives.
A Risk Management Committee has been formed to assist the Board of Directors in fulfilling its oversight responsibilities with regards to identifying the risks and the control processes to manage such risks.
The President/COO, all members of executive management team and management heads of each of the operating subsidiaries and affiliates meet on a weekly basis to evaluate and discuss the operational and financial performances. Identification and evaluation of business risks and the corresponding control processes were also discussed in the meeting.
The MAC Group observes the following four-objective categories of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) ERM Framework as its standard:
In 2015, MacroAsia Corporation and Subsidiaries recognized some risk exposures that have potential impact on the Group.
|Risk Exposure||Risk Management|
|Operational and financial risks of subsidiaries and affiliates||
|Global Economic Slowdown||
|Volatility of Foreign Exchange Rates||
|Valuation of Non-Current Assets||
© MacroAsia Corporation 2016