Servcorp Limited has detailed its commitment to corporate governance and ethical business practices, including a code of conduct, whistleblower policy, and anti-bribery measures. The company’s latest announcement outlines its adherence to the ASX Corporate Governance Council’s recommendations.
Material actions and disclosures
Servcorp has a code of conduct that all directors, executives, and team members are expected to uphold and promote. The code guides compliance with legal requirements and expected standards of behaviour. Any material breaches are reported to the Board.
The company also has a whistleblower policy and an anti-bribery and corruption policy, both of which are included as part of Servcorp’s Code of Conduct. Any material incidents reported under the whistleblower policy and any material breaches of the anti-bribery and corruption policy are reported to the Board.
Servcorp operates under a charter and a code of conduct which recognises that strong ethical values must be at the heart of director and board performance. The non-executive directors evaluate the performance of the Board, its committees, and individual directors annually.
The Board has established an audit committee with at least three members, all of whom are independent non-executive directors. The committee is chaired by an independent director who is not the chair of the Board. The committee charter is available on Servcorp’s website.
Additionally, Servcorp has a combined audit and risk committee, which reviews the entity’s risk management strategy, its adequacy and effectiveness, and the communication of risks to the Board.
Servcorp does not have a formal internal audit function, but it has a diversified business with tight accounting policies and central oversight by head office. Regular visits and spot checks by business and financial management to all locations ensure a robust control framework.
The Board has reviewed and assessed Servcorp’s exposure to environmental and social risks, concluding that the company does not have any material exposure to economic, environmental, or social sustainability risk within the meaning of the guidelines.
These measures reflect Servcorp’s commitment to a culture of acting lawfully, ethically, and responsibly across the organisation.