Worley Parsons

Q2 . Company 's Policies

The Company 's Board of Directors at all times strive to achieve the laid down high standards of quality with regards to safety of employees company performance and administration issues within all its globally based units . The company policies recognize every minor issue and there is a continual review and modifications of the involved policies laid down . The company 's management recognizes the value of corporate governance as a major opportunity and has adopted a variety of policies and codes , which also include a Corporate

Governance Code

and Board Charter . Here is a small of the various policies laid down by the company

1 . Solid foundations laid down for the management and oversight - the responsibilities of the company board are encompassed in the Corporate Governance

Code and Board Charter . The board is completely responsible for the approving of various business decisions of the company . The decisions include the financial as well as the ethical issues of the company . For the proper working the board has established two committees - Audit and Risk Committee

2 . Management committees - The company board has selected some Chief Executive 0fficer in various regions that have been allotted some of its powers which are related to the management of the company and meeting the strategic goals . The Chief Executive 0fficer is also supported by a number of managers . The board and the Chief Executive 0fficer co-ordinate to review the company 's policies and initiatives which are related to Health Safety and Environment , global trade , supervision of projects , and recognizing new opportunities for the Company

3 . Director independence - there are some rules laid down with regards to the independence of the Director as given by the ASX principles and the Australian business law and several other corporate governance rules . In this regard , the company board sets a particular amount of "materiality " for the director and considers true independence for each director on a case basis . Every director is autonomous of Worley Parsons management and is considered to be free of any other trade that could at any time interfere with the company business

4 . Promote ethical and responsible decision making - there are some load down policies that encourage an ethical and responsible approach to the decision making process . These polices are to be followed by directors managerial executives , management , staff , service providers and negotiators who carry out their duties and responsibilities to the uppermost principled standards . These rules also include legal issues and their compliance methods and professional behavior benchmarks . Also the directors are offered external and expert professional advice at regular intervals so that they are able to carry out their responsibilities in the best possible manner . The company has made some notable deals with their directors such as Deeds of Access , indemnity and insurance with each director

5 . Respecting the rights of the company shareholders - the company has laid a good amount of importance to ensure that the shareholders of the company are fully informed about heir rights at the company...