Construction Industry Council - Annual Report 2024

CONSTRUCTION INDUSTRY COUNCIL 34 CORPORATE GOVERNANCE REPORT Risk Management and Internal Controls Risk management is integrated into the CIC’s strategic planning process and its daily operations. With the growing complexity of operations and the increasing expectation of the industry on the CIC’s services, the governance and control measures of the CIC have been strengthened in the recent years, with the following Three Lines of Risk Management structure in place: FIRST LINE SECOND LINE THIRD LINE Report to Provide assurance Financial Controls Quality Assurance Compliance Risk Management Management Controls Internal Control Measures Council, Boards / Committees, Senior Management Audit Committee External Assurance Providers Internal Audit