Page 37 - SIGA Annual Report 2013

Basic HTML Version

37
Financial Risks
Liquidity Risk – The risk that SIGA is unable to meet its financial
commitments as they become due or can only do so at excessive costs.
SIGA manages its cash resources based on financial forecast and
anticipates cash flows.
Theft of Assets – We recognize the extreme importance of maintaining
strong controls over the safeguarding of cash and cash equivalents, as
specific to the gaming industry. SIGA manages these risks through the
design of internal controls to mitigate such occurrences.
Organizational and Process Risks
Risk with Loss of Key Personnel – SIGA recognizes the impact to the
organization if there was a loss of key personnel. In order to mitigate the
impact of such a loss, executive and senior management succession plans
are in place.
Information Risks – SIGA recognizes information for decision making
requires accurate, complete, and timely reporting of financial and
operational performance. SIGA manages these risks through continual
evaluation of the internal controls over financial reporting for new and
existing systems.