Investors

Corporate governance

Energy Resources of Australia Ltd is committed to high standards of corporate governance. It is a fundamental part of the company’s business practice. The Corporate Governance statement defines the rights and responsibilities of the board, auditors, institutional investors, private shareholders and other stakeholders. ERA and its directors and employees are committed to high standards of business conduct and compliance with the law.

Auditors

The appointment of external auditors is a function of the full Board on the recommendation of the Audit Committee and is subject to approval by shareholders. Any work to be conducted by the external auditor outside the agreed scope of the audit is to be approved by the Audit Committee.

Policy for the rotation of external audit engagement partners

ERA selects and appoints external auditors, and rotates external audit engagement partners every five years.

Risk Management, internal compliance and control systems

ERA recognises that all aspects of our business involve significant risk, including both threats (downside risk) and opportunities (upside risk). We are committed to managing all sources of risk in a proactive and effective manner through competent risk management. This requires high quality risk analysis to allow appropriate management decisions to be taken at all levels in the company.

A number of systems are in place to identify and manage risk.  These include:

• The identification and regular review of all the significant business risks facing the company;
• The provision of information by management to the Board, on a periodic basis, as to the status of any plans, controls, policies, and/or procedures to manage the significant business risks;
• Guidelines for ensuring that capital expenditure and revenue commitments exceeding certain approved limits are placed before the Board for approval;
• Limits and controls for all financial exposures, including the use of derivatives

Continuous disclosure

• Click here to review ERA's Continuous Disclosure procedure.

ERA's share trading policy

• Click here to review ERA's share trading policy.

Board performance and appraisal process

In accordance with the requirements of its Charter, the Board performs annual evaluations of its performance and sets out the goals and objectives of the Board for the upcoming year.