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RISK MANAGEMENT
The Board of Global Focus Fund Ltd. is responsible for the company’s system of compliance & risk management and internal control for monitoring its adequacy and effectiveness. The systems are designed to manage the compliance & potential risk of failure to achieve business objectives and can only provide reasonable and non-absolute assurances against material misstatement or loss.
Global Focus Fund Ltd has the overall responsibility for evaluating and determining the nature and extents of risks it is willing to take in achieving the GFFL’s strategic objectives and maintaining appropriate and effective compliance, AML, and risk management and internal control systems for the group.
The management of the company has established a set of comprehensive policies, standards and procedures in areas of operational, Compliance, AML, financial and risk controls for:
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Safeguarding assets against unauthorized use or disposition
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Maintaining proper accounting records
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Ensuring the reliability of financial information to achieve a satisfactory level of assurance against the likelihood of the occurrence of frauds and errors.
The Board through the compliance & risk management committee oversee the company’s Compliance, AML, & risk management and internal control systems on an on-going basis. A year-end review of the effectiveness of the company’s risk management and internal control systems has been conducted annually and the systems are considered to be effective and adequate by the compliance & risk management committee. The significant risk issues, if any, are referred to the board with management responses and recommendations for consideration.
The company also has an internal account audit function to carry out an analysis and independent appraisal of the adequacy and effectiveness of the systems. Procedures have been put in place to keep information confidential and manage actual or potential conflicts of interest. Stringent internal structures have been designed to prevent the misuse of insider information and avoid conflicts of interest.