West African Resources has corporate governance practices in place (‘the policies’) that have been adopted by the Board. The aim of the policies are to ensure that the Company is effectively directed and managed, risks are identified, monitored and assessed and that appropriate disclosures are made.
We regularly review our governance arrangements as well as developments in market practice, expectations and regulation. The Board believes that the governance policies and practices adopted by WAF during the reporting period for the year ended 31 December 2019 follow the recommendations contained in the third edition of the ASX Principles. It is noted that the fourth edition of the ASX Principles was released on 27 February 2019, and takes effect for a listed entity’s first full financial year commencing on or after 1 January 2020. Many of WAF’s corporate governance policies and practices set out in this Corporate Governance Statement also comply with the fourth edition of the ASX Principles.
The 2020/21 corporate governance statement is provided below, together with copies of our Board and Board Committee Charters and some of our key policies. The ASX Appendix 4G, which is a checklist cross-referencing the 3rd Edition Recommendations to the relevant disclosures in our corporate governance statement, has been lodged on the ASX together with the Corporate Governance Statement.