Compliance with the JSE Limited's stock exchange (JSE) Listings Requirements, applicable London Stock Exchange (LSE) Listings Requirements and the Irish Stock Exchange Listings Requirements is monitored by the audit and risk committees of the board.
The board's executive, audit, risk, human resources and remuneration, nomination, and social and ethics committees fulfil key roles in ensuring good corporate governance. The group uses independent external advisers to monitor regulatory developments, locally and internationally, to enable management to make recommendations to the Naspers board on matters of corporate governance.
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The board is responsible for the governance of risk and is satisfied with the effectiveness of the risk management process. Risk management plans and processes are presented, discussed and approved at risk committee meetings. Heat maps and registers of significant risks facing the group are discussed, along with management actions to control these risks within board-approved ranges of tolerance.
The diversified nature of the group helps spread risk, particularly in terms of global political and economic instability, market development, regulatory matters and currency fluctuations. Identifying risk and developing plans to manage risks are part of each unit's business plan. These are assessed annually by the board.
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