ATC has developed its corporate governance framework in line with best-in-class industry practices and standards as defined by relevant regulatory authorities. It is imbibed in the day-to-day business operations of the Company.
Risk Management
Risk management is rooted in our operations at the corporate level as managing risks goes hand-in-hand with maximizing returns. To this effect, there is a robust process in place to identify key risks across the organization and prioritizing relevant action plans to mitigate these risks. The Risk Management framework is reviewed periodically by the Board and its committees, which includes discussing the management submissions on risks, prioritizing key risks and approving action plans to mitigate such risks. The objective of this framework is to have a well-defined approach to risk. It suggests framing an appropriate response action for the key risks identified, so as to make sure that risks are adequately compensated or mitigated. Our risk management practices seek to sustain and enhance the long-term competitive advantage of the Company. It is our core values and ethics which form the basis of risk management strategy.
Internal Control Systems
ATC is focused on ensuring best-in-class standards for internal control systems and is committed to the principle of prudent growth. The Company has adequate systems for internal control commensurate with its size and complexities. These ensure that our assets and interests are carefully protected; checks and balances are in place to determine the accuracy and reliability of accounting data. Well documented processes have been implemented to ensure that policies are promoted and adhered to.
The Internal Control system aims to make sure that the business operations function efficiently and applicable laws, rules, regulations and policies of the Company are followed. The internal audit function periodically performs audit of various processes and activities. A Board level committee reviews the effectiveness of the Internal Control system, and also invites functional Directors and Senior Management personnel to provide periodic updates on operational effectiveness and controls. The committee also reviews adequacy of the Company’s internal control environment and monitors the implementation of audit recommendations, including those relating to strengthening of the Company’s risk management policies and systems.
ATC’s ESG, or Environmental, Social & Governance framework solidifies our approach to managing risks and opportunities in the ESG sphere in a holistic way, highlighting how ATC considers sustainability a bigger concept than just environmental issues. ATC extends its commitment to this pillar beyond mere product excellence, and embodies the principles of ESG and CSR.
With the aim to create a better tomorrow, our operations are dedicated to advancing healthcare and environmental stewardship, through responsible distribution of medical equipment and innovative laboratory solutions. We actively pursue sustainable practices, prioritize the well-being of our communities, upholding the highest standards of governance and ethics. In every step we take, we strive to positively impact the lives of our community and the planet as a whole, ensuring a healthier and more sustainable future for all.
