Atlantic corporate governance framework
Organisational structure
External • Assurance committee • Sub-committee to board of directors
Internal • Leadership team • Management committees
Internal controls framework
IIA COSO Framework: • Control environment • Risk assessment • Control activities • Information and communications • Monitoring
At Atlantic, our Corporate Governance Framework enables and supports a business environment that is fair, transparent and accountable. Our corporate governance mechanisms ensure that we achieve sustainable business performance, act responsibly and allow us to mitigate risk to our business, our people and our reputation.
Independent assurance
• Internal audit • External audit • Member audits • Statutory audits
Sub-Committee, Finance and Tax Sub Committee, Sustainability Committee, Donations Committee and the Sponsorships Committee.
Internal controls framework
Atlantic operates and manages four LNG Trains on behalf of the owners of each of the Trains.
The Corporate Governance Framework leverages the five components of the Committee of Sponsoring Organisations of the Treadway Commission (COSO), to provide guidance on organisational governance, business ethics and internal controls. These five components and specific examples of how they are implemented within Atlantic are:
The CEO and the COO are responsible for Atlantic’s strategic objectives and managing operating activities in order to meet the interests of shareholders and other stakeholders. They are supported by the Leadership Team, which comprises the heads of each Business Unit. The Leadership Team meets once per month to review and report on performance and progress against strategic objectives.
I. II. III. IV. V.
The Management Team represents the next supervisory level and reports directly to the Leadership Team. The Management Team meets quarterly to review progress against annual targets, consider information to be disseminated throughout the organisation, and discuss new policies and initiatives.
Atlantic’s governance system guides the manner in which the organisation is overseen and managed. Governance in Atlantic integrates the set of relationships between the Leadership Team, the shareholders and other stakeholders. Our governance structure is guided by the objectives of the organisation and achieved through an integrated system of corporate policies and procedures which are monitored to achieve transparency, independence, accountability and integrity.
Organisational structure
A number of sub-committees govern individual strategic and sustainability objectives; for example, the Assurance Committee, Technical and Operations
Control environment (e.g., code of ethics) Risk assessment (e.g., risk management standard) Control activities (policies and procedures) Information and communication (sustainability report) Monitoring (internal audit and external assurance activities)
2017 Sustainability Report
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