The Directors are responsible for the overall management and control of Oakley Capital Investments Limited. The Directors review the operations of OCI at regular quarterly board meetings.
The Company has established an audit committee, risk committee and management engagement committee each with formally delegated duties and responsibilities. The entire Board of Directors is responsible for other functions including portfolio management, nomination and remuneration decisions.
The Audit committee determines the terms of engagement of the Company’s auditors and determines, in consultation with the auditors, the scope of the audit and monitors the external auditor’s independence and objectivity.
The Audit Committee is involved in monitoring the integrity of the Company’s financial statements in discussion with the auditor, as well as reviewing internal financial controls.
The purpose of the Risk Committee is to provide oversight of the risk management process for the Company and ensure that risks are identified, assessed, monitored and mitigated in accordance with its risk appetite.
The Committee also plays a central role in ensuring that material emerging risks, which have the potential to affect the Company, are identified in a timely manner and managed in an appropriate manner.
Management Engagement Committee
The purpose of the Management Engagement Committee is to review on a regular basis the appointment remuneration and performance of the key service providers to the Company. For the avoidance of doubt, the Committee will not review the performance of the Company’s auditor.
The Directors recognise the importance of sound corporate governance and have chosen to comply with the Association of Investment Companies (AIC) Code of Corporate Governance (the “AIC Code”). Pursuant to Rule 26 of the AIM Rules for Companies, details of the Company’s compliance with (or, where applicable, its departure from) the principles of the AIC Code are available here.