The Board of Directors of Pacific Star Network is responsible for the corporate governance of the Group. The Board guides and monitors the business on behalf of the shareholders by whom they are elected and to whom they are accountable.
The Board of Directors’ responsibilities are:
approving and periodically reviewing the business and financial objectives and strategies and plans of the Group;
monitoring the financial performance of the Group, including approval of the group’s financial statements;
ensuring that adequate internal control systems and procedures exist and that compliance with these systems and procedures is maintained;
identifying areas of significant business or financial risk to the Group and ensuring management takes appropriate action to manage those risks;
reviewing the performance and remuneration of Board members and key members of staff;
monitoring the operations of the Group and the performance of management;
establishing and maintaining appropriate ethical standards; and
reporting to the Shareholders, ASIC and ASX as required.
The Board delegates to the Chief Executive Officer and the executive team responsibility for the operation and administration of the Group.
In carrying out its responsibilities and functions, the Board may delegate any of its powers to a Board Committee, a Director, employee or other person subject to ultimate responsibility of the Directors under the Corporations Act.
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