The Directors, who are responsible for Frog System Limited’s system of internal control, have established systems to ensure that an appropriate level of oversight and control is provided to help the company achieve its business objectives.
The annual financial plan is reviewed and approved by the Board. Financial results with comparisons to plan and forecast results are reported on at regular Board meetings together with a report on operational achievements, objectives and issues encountered. Significant variances from plan are discussed at Board meetings and actions set in place to address them.
Approval levels for authorisation of expenditure are at set levels and cascaded through the management structure with any expenditure in excess of predefined levels requiring approval from the executive directors.
Frog Systems is committed to attracting and retaining the highest level of skilled personnel. The company recognises the importance of its employees and that it’s success is due to their efforts. The company respects the dignity and rights of all its employees, and provides clean, healthy and safe working conditions. An inclusive working environment and a culture of openness are maintained by the regular dissemination of information. The company operates a Enterprise Management Incentive share option scheme to enable employees to share in the company’s success.
Suppliers and Subcontractors
Relationships with suppliers and subcontractors are based on mutual respect, and the company seeks to be honest and fair in its relationships with suppliers and subcontractors, and to honour the terms and conditions of its agreements in place with such suppliers and subcontractors including payment terms.