ITF

CORPORATE GOVERNANCE 41 Decisions and appeals The ITF has appeal procedures, which are fully detailed in the Constitution and the Regulations for the individual Competitions. Risk management The ITF is exposed to a variety of risk factors which are assessed on a regular basis. Policies to minimise the risks include insurance cover, currency hedging, long term commercial contracts and the prudent and limited utilisation of financial reserves to maintain programmes. The Board places great emphasis on its risk management policies and internal controls. It receives regular reports on risk management issues from management, including a summary risk register covering all ITF activity. The detailed risk register is reviewed by the Finance & Audit Committee and other Committees review the sections of the detailed risk register relevant to their activity. The ITF also uses external consultants to advise on potential risks and security at ITF events. Ethical standards All Board and Committee members, directors, managers and employees are expected to act with the utmost integrity and objectivity, striving at all times to enhance the reputation and performance of the ITF. All Board members are required to declare any conflict of interest, perceived or otherwise, they may have in matters before the Board or Committee, not to vote or participate in the debate on matters in which they have a conflict, to absent themselves from the meeting during the discussion and to abstain from voting on that issue.

• Cover