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Directors’ Report
30 June 2013
Bradken Limited
Directors' report (continued)
30 June 2013
B. Corporate governance (continued)
Principle 7 - Recognise and manage risk
Risk assessment and management
Corporate reporting
Principle 8 - Remunerate fairly and responsibly
Human Resources Committee
Eileen Doyle (Chairman)
Nick Greiner
Phil Arnall
Vince O'Rourke - retired 23 October 2012
that the above statement is founded on a sound system of risk management and internal compliance and control which
implements the policies adopted by the Board and that the Group's risk management and internal compliance and control is
operating efficiently and effectively in all material respects.
A copy of the Group's Risk Management Policy is available on the Company website.
The members of the Human Resources Committee during the year were:
Bradken is committed to managing risk to protect it's people, the environment, Group assets, the community and it's reputation.
Bradken operates an Enterprise Risk Management process consistent with international standards to manage it's business risk.
This risk-based system helps the Group operate effectively and efficiently, achieve business objectives, ensure reliable reporting
and comply with applicable laws and regulations.
Further information on directors’ and executives’ remuneration, including principles used to determine remuneration, is set out in
the Directors’ report under the heading ‘Remuneration Report’.
The Managing Director and the CFO have made the following certifications to the Board:
The committee also assumes responsibility for overseeing management succession planning, including the implementation of
appropriate executive development programmes and ensuring adequate arrangements are in place, so that appropriate
candidates are recruited for later promotion to senior positions. This includes overseeing processes in relation to meeting
diversity objectives for executives and staff below board level.
The Board implements this policy by overseeing the establishment and implementation of the risk management system through
the Audit and Risk Committee, reviewing the effectiveness of the Group's implementation of that system.
Details of these directors attendance at Committee meetings are set out in the directors' report on page 6.
Not all aspects of risk management can be formalised and Bradken places considerable reliance on the skill, experience and
judgement of its people to make risk based decisions within the policy framework, and to communicate openly on all risk related
The Human Resources Committee operates in accordance with its charter which is available on the Company website. The
Human Resource Committee advises the Board on remuneration and incentive policies and practices generally, and makes
specific recommendations on remuneration packages and other terms of employment for the executive directors, other senior
executives and non-executive directors.
that the Group’s financial reports are complete and present a true and fair view, in all material respects, of the financial
condition and operational results of the Company and Group and are in accordance with relevant accounting standards
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Bradken Limited