Internal Control and Risk Management Committee definition

Internal Control and Risk Management Committee means the committee of the Board of Directors established pursuant to Article 8.9 whose initial terms of reference shall have been approved by the Contributors at the Organizational Meeting;
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Examples of Internal Control and Risk Management Committee in a sentence

  • The Board of Directors shall establish the following committees: the Audit Committee, the Internal Control and Risk Management Committee, and the Nomination and Remuneration Committee.

  • The Board has set up the Risk Management Committee and the Audit Committee, while the President’s Office of the Company has set up several functional departments, such as the Internal Control and Risk Management Committee, the Internal Control and Risk Management Department, the Sales Supervision Department, the Audit Department, the Legal and Compliance Department, and the Supervision Department.

  • The individual targets assigned to the Head of the Internal Audit Department and the results achieved are submitted to the Internal Control and Risk Management Committee.

  • The President’s Office of the Company has set up the Internal Control and Risk Management Committee, under which several functional departments, such as the Internal Control and Risk Management Department, the Legal and Compliance Department, the Supervision Department, the Audit Department, and the departments in charge of finance and business administration, are established.

  • The General Manager’s Office of the Company has set up the Internal Control and Risk Management Committee, under which several functional departments, such as the Internal Control and Compliance Department, the Supervision Department, and the departments in charge of finance and business administration, are established.

  • Effective communication is required for the system to function correctly, and to that end, the Group has ensured that all the pertinent documents – be they updates or reports – flow as efficiently as possible among the persons and bodies involved in running the system of internal control and risk management: the Board of Directors, the Internal Control and Risk Management Committee, the Director in charge of the system of internal control and risk management, Internal Audit.

  • During the financial year, the Board of Directors met 4 times, and the Board of Statutory Auditors 8 times.The Internal Control and Risk Management Committee 4 times, whereas the Remuneration Committee met once, and the Committee for Related Party Transactions did not meet.The Board of Statutory Auditors attended the meetings of the Board of Directors, and through its Chairman, those of the Internal Control and Risk Management Committee and the Remuneration Committee.

  • In the event of failure to meet the gates, the Board of Directors, subject to the opinion of the Remuneration Committee and the Internal Control and Risk Management Committee, will decide to reduce those portions or cancel them altogether.

  • In carrying out its duties, the Board of Statutory Auditors liaised with the Internal Control and Risk Management Committee and with the Head of Internal Audit.There were no auditors who stepped down from office during the year.There have been no changes in the composition of the Board of Statutory Auditors since the end of the year.

  • The Parent Company has adopted a one-tier system, therefore, the Internal Control and Risk Management Committee - established within the Board of Directors - is only composed of Independent Directors, providing the public in the Investor Relations section of the corporate website www.eng.it all the documentation relating to the annual Governance report, the Code of Ethics, the organisational model, regulations, protocols and the financial statements.

Related to Internal Control and Risk Management Committee

  • risk management plan ’ means a risk management plan submitted to the Ad- ministrator by an owner or operator of a stationary source under subparagraph (B)(iii).

  • Internal control means a process effected by an entity's governing board, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories:

  • Risk Management Policy means the Risk Management Policy of the Borrower in effect on the date of this Agreement as amended from time to time.

  • Financial Crime Risk Management Activity means any action to meet Compliance Obligations relating to or in connection with the detection, investigation and prevention of Financial Crime that the Bank or members of the HSBC Group may take.

  • risk management means coordinated activities to direct and control an organization with regard to risk.

  • Procurement Committee means a Committee constituted by the Employer to perform the functions as such under the terms and conditions of Contract.

  • Change Management means the add-on module to the Programs that enables engineers to define network changes through one or more configuration templates. Those network changes can be applied to multiple devices and executed/rolled back automatically. The Change Management module enables engineers to verify the impact of the changes across the network to help ensure a safer change process.

  • Internal combustion engine or ‘engine’ means an energy converter, other than a gas turbine, designed to transform chemical energy (input) into mechanical energy (output) with an internal combustion process; it includes, where they have been installed, the emission control system and the communication interface (hardware and messages) between the engine's electronic control unit(s) and any other powertrain or non-road mobile machinery control unit necessary to comply with Chapters II and III;

  • Internal Controls has the meaning set forth in Section 4.07(d).

  • Architectural Control Committee means and refer to that committee constituted under Article 4 hereof for the review of Development Plans (as hereinafter defined) and other functions.

  • Quality Management Plan means the portion of the Project Development Plan providing the information requested in Section 4.3 of Exhibit B to the ITP.

  • Oversight means the term as it is defined in the Stewardship Agreement between CDOT and the FHWA.

  • Management Plan means a plan to manage the activities and protect the special value or values in an Antarctic Specially Protected Area or an Antarctic Specially Managed Area.

  • Best management practices (BMP) means schedules of activities, prohibitions of practices, maintenance procedures, and other management practices to prevent or reduce the pollution of waters of the United States. BMPs include treatment requirements, operation procedures, and practices to control plant site runoff, spillage or leaks, sludge or waste disposal, or drainage from raw material storage.

  • Internal control over financial reporting means a process effected by an insurer’s board of directors, management and other personnel designed to provide reasonable assurance regarding the reliability of the financial statements, i.e., those items specified in Section 5(B)(2) through 5(B)(7) of this regulation and includes those policies and procedures that:

  • Monitoring Committee means the committee established under clause 10 of this Award.

  • Security Management Plan means the Supplier's security management plan prepared pursuant to paragraph 3 of schedule 2 an outline of which is set out in paragraph 2.7 of the Order Form as updated from time to time;

  • Stormwater management plan means the set of drawings and other documents that comprise all the information and specifications for the programs, drainage systems, structures, BMPs, concepts and techniques intended to maintain or restore quality and quantity of stormwater runoff to pre-development levels.

  • Project Management Plan means the portion of the Project Development Plan providing the information requested in Section 4.2 of Exhibit B to the ITP.

  • State Management Committee means a Committee comprising representatives from the Confederation of Western Australian Industry, the Trades and Labor Council of Western Australia, Technical and Further Education (TAFE) and the relevant Federal and State Government Departments which approve traineeship arrangements by agreement of each of the parties. The State Management Committee may be established pursuant to the provisions of the Industrial and Commercial Training Act, 1975 or any amendment to or substitution of that Act, provided that any Committee or body established in lieu of the State Management Committee has the same representatives structure and decision making processes as that Committee.

  • Risk Manager means the Manager of County Executive Office, Risk Management, County of Orange, or designee, or upon written notice to Tenant, such other person as may be designated by the Board of Supervisors.

  • Virginia Stormwater Management Program authority or "VSMP authority" means an authority approved by the State Board after September 13, 2011, to operate a Virginia Stormwater Management Program.

  • Procurement Policy Board or “PPB” shall mean the board established pursuant to Charter § 311 whose function is to establish comprehensive and consistent procurement policies and rules which have broad application throughout the City.

  • Best Management Practices (BMPs means schedules of activities, prohibitions of practices, maintenance procedures, and other management practices to prevent or reduce the pollution of waters of the state. BMPs also include treatment requirements, operating procedures, and practices to control site runoff, spillage or leaks, sludge or waste disposal, or drainage from raw material storage.

  • Safeguards Monitoring Report means each report prepared and submitted by the Borrower to ADB that describes progress with implementation of and compliance with the EMP and the RP, including any corrective and preventative actions;

  • Procurement Management means the Director of Lee County’s Procurement Management Department or designee.