Risk Management areas

Strategic and business-risk management
Workshops organised during the year under review once again devoted attention to strategic and business risk management. These workshops evaluated the risks and measures, and discussed mitigating measures for the short and medium term.

Operational risk management
Kendrion’s companies make active use of quality systems designed to improve the processes. Virtually all companies have been awarded ISO certification, and possess the relevant safety certificates.

Compliance & regulation
Kendrion must comply with the local legislation and regulations in all countries in which the company is active. The responsibility for compliance rests with the local management. Transactions and affairs that could be of influence on the legal structure of the Kendrion group companies, and material claims, should be addressed at concern level. Kendrion obtains advice from external legal experts to acquire timely information about the latest developments in the legislation and regulations, inclusive of the applicable stock exchange regulations. Kendrion has also taken out liability insurance at corporate level to protect the companies and their Directors from possible claims. Internal audits conducted from time to time at the operating companies investigate issues including compliance with local legislation and regulations.

Financial reporting risk management
Kendrion has opted for a design whereby the scope of the programme encompasses those companies that jointly account for approx. 80% of the value of the relevant reporting cycles. The reporting cycles Kendrion has implemented for its operating companies are revenue and accounts receivable, purchase and accounts payable, inventories, fixed assets, and human resources.
Risk management areas for reporting year 2008
Click here for information on the risk management areas for reporting year 2008.