National Eye Security acknowledges its responsibility for risk management and has implemented various control systems to regularly identify, evaluate and manage significant risks. These systems provide reasonable, albeit not absolute, assurance that risks are adequately managed. The company is exposed to a variety of risks including credit, market, operational, strategic and reputational risk. Insurance and related matters are also dealt with as part of the centralised insurance program and are monitored regularly. The execution of risk policy is delegated to management and monitored by internal audit.
The Risk Committee meets every quarter and reports its activities to the Board on that basis. The Committee is mandated by a Terms of Reference as approved by the Board, while management is responsible for implementing and managing the risk profile of the company.
The Management of Risk in National Eye Security is an on-going process and remains pivotal to the success of the company.