Page 12 - QFCRA Annual Report 2014
P. 12
ernance
Framework
Governance Role of the Board
The role of the Board is to lead the
The Regulatory Authority operates Regulatory Authority in line with
under a governance framework the QFC Law and other applicable
designed to ensure transparency, legislation. The Board sets the
integrity, independence, strategic direction for the Regulatory
accountability and fairness. It is Authority; oversees the executive
committed to demonstrating best management’s discharge of the day
practice and leadership in this area. to day business of the Regulatory
The Governance Resolution of the Authority; sets policies to manage
Board of the Regulatory Authority sets risks to the Regulatory Authority’s
out the policy of the Board on various operations and the achievement of
governance matters, reflecting the its regulatory objectives; and seeks
intention that the business of the regular assurance that the system
Regulatory Authority is conducted of internal controls is effective in
in accordance with its regulatory managing risks.
objectives, applicable laws and
principles of sound governance.
12 ANNUAL REPORT 2014
Framework
Governance Role of the Board
The role of the Board is to lead the
The Regulatory Authority operates Regulatory Authority in line with
under a governance framework the QFC Law and other applicable
designed to ensure transparency, legislation. The Board sets the
integrity, independence, strategic direction for the Regulatory
accountability and fairness. It is Authority; oversees the executive
committed to demonstrating best management’s discharge of the day
practice and leadership in this area. to day business of the Regulatory
The Governance Resolution of the Authority; sets policies to manage
Board of the Regulatory Authority sets risks to the Regulatory Authority’s
out the policy of the Board on various operations and the achievement of
governance matters, reflecting the its regulatory objectives; and seeks
intention that the business of the regular assurance that the system
Regulatory Authority is conducted of internal controls is effective in
in accordance with its regulatory managing risks.
objectives, applicable laws and
principles of sound governance.
12 ANNUAL REPORT 2014
