Internal Control System

The Board is responsible for maintaining a sound system of internal controls to safeguard shareholders’ investment and the assets of the Company. The system of internal controls is to provide reasonable assurance against material misstatement, prevent and detect fraud and other irregularities.

There is an effective internal control function within the Company which gives reasonable assurance against any material misstatement or loss. The Board and Management will continue to review the effectiveness and the adequacy of the company's internal control systems and update such as may be necessary.

The internal audit is subjected to external review every 3yrs and auditors are appointed for the period.

Risk Management

Ardova Plc's risk management framework is integrated into its daily business operations. The framework sets out standards and guidelines for the ongoing management of key risks within the company.

Some of these risks include strategic, financial, operational, compliance and reputational risks. The continuous review and implementation of an effective internal control system by the board of directors ensure that the investment of shareholders and the company's assets are protected against material misstatement, fraud and other irregularities.