Lenovo 2016 Annual Report Download - page 81

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2015/16 Annual Report Lenovo Group Limited
Enterprise Risk
Management (“ERM”)
• Responsible to design, implement, review and update Lenovo’s ERM
framework.
• Coordinates the risk identification and assessment process, highlights
identified risks to the Audit Committee, along with the status of actions
taken to manage these risks.
• Risk projects.
Business Functions • ERM Risk Champions are appointed in each functions where risk
ownership is established.
• Identify risk, assess and initiate control and mitigation measures in their
areas of responsibility.
• Establish group-wide policies and guidelines where appropriate.
• Quarterly management disclosure and certification process trigger
reporting of unusual items, occurring in of the ordinary course of our
business, which raise significant financial or business risks.
This risk management and internal control framework is in place to improve communication of identified
risks with management, measure the impact of the identified risks and facilitate implementation of
coordinated mitigating measures.
Internal Control
The Board acknowledges its responsibility to oversee the effectiveness of the Company’s internal control
system. This is achieved through a defined management structure with specified limits of authority and
defined control responsibility designed to:
• Achieve business objectives and safeguard assets against unauthorized use or disposition;
• Ensure maintenance of proper accounting records for the provision of reliable financial information
for internal use or for publication; and
• Ensure compliance with the relevant legislation and regulations.