ADDITIONAL CORPORATE GOVERNANCE INFORMATION
A closer look at risk management
The risk committee ensures that internal controls mitigate all significant risks faced by the Group. Systems are designed to achieve optimum management of business risks. The review process also identifies opportunities for turning effective risk management into competitive advantage.
The management of risk and loss control is decentralised, yet follows Group policies on risk financing and self-insurance and utilises the Group risk-management framework. Compliance measurement is conducted through reviews of periodic risk-activity reports that also measure identified losses. Our decentralised structure and geographic spread help to ensure that overall Group risk is balanced and minimised.
At operational level, senior management identifies major business risks, promotes awareness, introduces controls and procedures and applies risk-monitoring techniques. Divisional risk committees identify the manner and extent to which risk is controlled and/or reduced, while monitoring the process.
Bidvest’s decentralised structure forms the basis of the Group’s business continuity plan. Each of the operation has its own disaster recovery and management succession plans. Individual business units are sufficiently small and independent of each other to eliminate Group-wide disaster risk.
Bidvest's vision lies in the realm of possibility
“Bidvest people put in a resilient performance and the Group achieved a creditable result.”
statement
“We refuse to participate in the recession and salute our employees for their efforts in exceptionally difficult trading conditions.”