Risk management

After the Board was established, its first projects were the development of a risk appetite statement and the completion of a risk assessment. To prepare the risk appetite statement, SSM engaged its usual accounting firm, Parto Chartered Accountants. Parto Chartered Accountants has drafted the statement, and it has left SSM responsible for populating the risk appetite fields for each risk category.

SSM outsources most of its financial compliance work; however, it understands that the market is sensitive to economic conditions, and therefore must manage its financial risks to protect itself. Whilst SSM understands that it may not completely eliminate financial risks, it seeks to manage risk to a reasonable level.