Uncertainty is part of the everyday challenges for any business. Future events may lead to opportunities with positive impact, but can also result in a risk for negative impact on the business’s operations and financials.
Operational risks are continuously evaluated within the daily operations. Management related risks are continuously reviewed by management and documented by the Internal Controls Function. The Group’s management reports monthly to the Board of Directors on potential risk issues. The Board of Directors are responsible to the shareholders for the Group’s risk management and formally assess risks annually or more often when needed.
To ensure that Boozt complies with applicable laws and regulations and to ensure that the Group’s values are incorporated throughout the organisation, the Group has adopted a Code of Conduct with mandatory principles regarding behaviour for management and employees.
Boozt identifies, assesses and manages risks based on the Group’s vision and goals.
In December 2016, an overview was developed of the four identified risks which are recognised as having a considerable impact on the business. These are listed under the topics of Financial, Strategic, Operational and Compliance risks. Each of these are discussed further according to their risks and mitigation in their individual sections.