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Corporate Governance

Structural Monitoring Systems’ business is conducted by its employees and executive team with oversight from the Board of Directors.

The Board periodically reviews the Company’s corporate governance principles and current practices to ensure they remain relevant, robust and up to date.

The Board and the corporate officers recognize that the long-term interests of the company are advanced when they are responsive to the concerns of communities, customers, employees, public officials, shareholders and suppliers.

Directors agree to comply with the Corporate Governance Principles as well as all other applicable publicly disclosed corporate governance, ethics, conflict of interest, confidentiality, stock ownership and trading policies, and guidelines of the Company. Compliance, including anti-corruption topics, is discussed periodically with the Board.

The primary responsibility of the Structural Monitoring Systems (SMS) Board is to represent and advance Shareholders’ interests and to protect the interests of all stakeholders. To fulfill this role, the Board is responsible for the overall Corporate Governance of SMS, including its strategic direction, establishing goals for management and monitoring the achievement of these goals.

Protection and enhancement of Shareholder value.
Formulation, review and approval of the objectives and strategic direction of the Company.
Approving all significant business transactions including acquisitions, divestments and capital expenditure.
Monitoring the financial performance of the Company by reviewing and approving budgets and monitoring results.
Ensuring the adequate internal control systems and procedures exist and that compliance with these systems and procedures is maintained.
The identification of significant business risks and ensuring that such risks are adequately managed.
The review of performance and remuneration of executive directors and key staff.
The establishment and maintenance of appropriate ethical standards.
Evaluating and, where appropriate, adopting with or without modification, the ASX Corporate Governance and Best Practice.

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