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Risk Management Structure
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GTL’s risk management structure conforms to the requirement of Clause 49 of Securities
and Exchange Board of India’s circulars.
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An integrated risk management system continuously identifies monitors and manages
GTL’s risks. The audit committee of the Board provides the overall policy guidelines.
This committee also conducts periodic reviews of GTL’s risk management policy, while
the Board monitors GTL’s risk management through quarterly risk reports.
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Risk Management Framework
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GTL benchmarks its risk management practices to global best practices, as laid down
by COSO, The Committee of Sponsoring Organizations of the Treadway Commission (www.coso.org).
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GTL has an internal risk reporting and control system for each of its business segments
and subsidiaries, to ensure continual and transparent monitoring.
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Click on the links below to know more...
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| Legal and compliance risk |
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| The IT and telecom industries are very dynamic with the regulatory frameworks, continually evolving and changing. |
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| While GTL has systems in place for ensuring compliance with existing rules and regulations, the regulatory authorities may interpret these differently at different points of time. However, GTL has had no such experience so far. |
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| GTL has a review and documentation process for contracts with a focus on evaluating legal risks. This is to cover risks and confine GTL’s liabilities under contracts. |
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| GTL takes adequate insurance cover overseas to cover possible liabilities from non-performance of contracts, reviewing them continually and initiating corrective action. As a policy, contracts with open-ended obligations are rejected. |
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