Page 35 - Apraava Energy Report_01-73
P. 35
Apraava Sustainability Report 2020-2021 35
Enterprise Risk
Management
Apraava Energy has adopted and
approved a comprehensive
Enterprise Risk Management (ERM)
framework, which is applicable to
Apraava Energy and all of its
subsidiary companies, for
managing and mitigating risks.
The framework establishes a system for continuous risk assessment
as well as annual risk assessment. The framework is comprehensively
depicted in Figure 5.
Figure 5: Apraava Energy’s comprehensive risk assessment framework
Board oversight
Roles & responsibilities; guidelines & tools
Risk reporting and Independent assurance
communication
Group Internal Audit
Chief Financial Officer
and Group Executive
Committee Risk escalation & assurance
Risk and control ownership Risk and control
oversight functions
Business units, group
functions and individuals Finance, Risk
Management, Internal
Control, Tax,
Operations, IT, Legal,
HR, Sustainability
