S. INTERNAL CONTROLS

Past version: effective up to 30/12/2015
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(a) Where an issuer includes a directors' statement that they have conducted a review of its internal control system in the annual report under paragraph C.2.1, it is encouraged to disclose the following:
(i) an explanation of how the internal control system has been defined for the issuer;
(ii) procedures and internal controls for the handling and dissemination of inside information;
(iii) whether the issuer has an internal audit function;
(iv) the outcome of the review of the need for an internal audit function conducted, on an annual basis, by an issuer without one (C.2.6 of the Code);
(v) how often internal controls are reviewed;
(vi) a statement that the directors have reviewed the effectiveness of the internal control system and whether they consider them effective and adequate;
(vii) directors' criteria for assessing the effectiveness of the internal control system;
(viii) the period covered by the review;
(ix) details of any significant areas of concern which may affect shareholders;
(x) significant views or proposals put forward by the audit committee;
(xi) where an issuer has not conducted a review of its internal control system during the year, an explanation why not; and
(b) a narrative statement explaining how the issuer has complied with the code provisions on internal control during the reporting period.