Page 65 - Kolte Patil AR 2019-20

Internal control systems and their adequacy

The internal control and risk the Company and Group and involves monitoring and support committees.
management system is structured a range of personnel who act in a The control and risk committee and
and applied in accordance with the coordinated manner while executing the head of the audit department work
principles and criteria established in their respective responsibilities. The under the supervision of the Board-
the corporate governance code of the Board of Directors offers its guidance appointed Statutory Auditors.
organisation. It is an integral part of and strategic supervision to the
the general organisational structure of Executive Directors and management,

Human resources
The Company believes that its employee performance through a to go beyond the scope of their work,
intrinsic strength lies in its dedicated planned reward and recognition undertake voluntary projects that
and motivated employees. As such, programme. The Company aims to enable them to learn and devise
the Company provides competitive create a workplace where every person innovative ideas.
compensations, an amiable work can achieve his or her true potential.
environment and acknowledges The Company encourages individuals

Cautionary statement

This statement made in this section assumptions and expectations of external factors which are beyond the
describes the Company’s objectives, future events. The Company cannot control of the Company. The Company
projections, expectation and guarantee that these assumptions assumes no responsibility to publicly
estimations which may be ‘forward and expectations are accurate or will amend, modify or revise any forward-
looking statements’ within the be realised by the Company. Actual looking statements on the basis of any
meaning of applicable securities laws result could differ materially from subsequent development, information
and regulations. Forward–looking those expressed in the statement or events.
statements are based on certain or implied due to the influence of

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