Our Audit, Compliance and Corporate Governance (ACCG) Committee is ultimately responsible for overseeing how TMH complies with all the relevant Myanmar laws and regulations, and managing the key risks which might impact its operations' sustainability. To ensure that TMH’s BOD always has the necessary information when making a decision, its ACCG Committee can task the Internal Audit team to investigate across the company. Internal auditors will then report back directly to the ACCG Committee Members. TMH’s control environment is summarised below.
Risk management is essential to ensuring the sustainability of our operations. The tables below summarise how we are managing our most material risks.
Area | Legal & compliance |
Trend | |
Risk factors |
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Approach | To mitigate this increasing risk factor, TMH embraces a precautionary approach:
Furthermore, TMH works with various service providers to monitor any change in the regulatory framework that may impact its operations and activities. The Company has also established a specific team in Nay Pyi Taw to that end. TMH has a compliance officer who was tasked by the Board to monitor the implementation of a newly approved Code of Conduct. |
Area | Finances |
Trend | |
Risk factors |
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Approach | The Company has decided to:
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Area | Health, Safety & Security |
Trend | |
Risk factors |
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Approach | The safety of our employees are paramount and non-negotiable.
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Area | Supply chain |
Trend | |
Risk factors |
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Approach |
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Every month, the internal audit team will share its report and findings with the ACCG Committee. The internal audit team assesses, reviews, and challenges all the data shared with the Board, especially those related to TMH’s performance.
Our internal audit also monitors how the various departments comply with TMH’s internal rules and policies (our Employee Handbook, SOPs, etc.) Last year, we did not identify any breaches.
Our approach to quality is also a component of our risk management system. Reflecting our commitment to operate as effectively as possible, we managed to renew our ISO 9001:2015 certification in July 2021.