Page 36 - 2012_Annual Report

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At SIGA, business risk is defined as the degree of exposure
associated with the achievement of key strategic, financial
organizational and process objectives. In relation to the
effectiveness and efficiency of operations, the reliability
of financial reporting, compliance with laws and
regulations and the safeguarding of assets within an
ethical organizational culture.
Principal risks and uncertainties that could affect SIGA’s
future business results going forward is of primary concern.
Although the SIGA Board is ultimately accountable for
overseeing risk management within the Authority as a
whole, it has assigned responsibility to the Audit & Finance
Committee to oversee the Authority’s risk assessment and
risk management processes. SIGA senior executives are
responsible for ensuring key business risks are identified,
defined and prioritized. Executive risk owners are engaged
and charged with risk mitigation within limits established
by the SIGA Board of Directors. This data is compiled
in a corporate risk profile that is reported to the Audit &
Finance Committee on a quarterly basis. Results of the
quarterly risk and control assessment are incorporated
into the development strategic planning process.
Key Risks