Tatts Group operates a risk management framework that provides the Board with a communication process to continually assure them that risks inherent in the operations and activities of the Group have been prudently managed.

The Board has delegated the review of risk management practises to the Audit, Risk and Compliance Committee.

As part of this role, the Committee regularly reviews the effectiveness of the risk management system and reports to the Board on the risk management framework, at least annually.

The Group's management team is responsible for implementing the risk management system, in particular identifying risk, developing methods of improving internal controls and governance systems and reporting material business risks to the Board.

• Corporate planning and key strategic project implementation;
• The financial practices undertaken pursuant to the policies and procedures such as delegations of authority, budget monitoring and project performance reports;
• The operation and reporting structures of the Group's compliance programme in relation to legislative and regulatory requirements of the Group's businesses;
• The change management, standard operating environment, and security policy processes and practices that, along with other technology related risk management structures, reflect the risk management approach to the Group's technology infrastructure;
• An Internal Audit programme that provides assurance to the Board and senior management regarding the adequacy of risk management, compliance and control systems; and
• An annual review of the insurance program to ensure adequate coverage of insurable risks.

For the current reporting period, the Chief Executive and the Chief Financial Officer have made statements in accordance with Recommendations 4.1 and 7.2 of the ASX Corporate Governance and Best Practice.

View the Tatts Group Risk Management Policy