We take a proactive approach to risk management. We have integrated business continuity practices across our global business to reduce the likelihood and impact of a threat and provide us with the ability to respond and recover from threats should they arise.
In the past financial year, we have conducted an impact analysis focused on identifying, understanding and quantifying the impact of a material disruption to a key facility, location, supplier or business process, and prioritising the most significant potential exposures to the business.
As an outcome of this work, we have put in place mitigation strategies and plans that are integrated into the business units and tested to establish confidence and continuous improvement of recovery capabilities. Crisis management plans exist, and regular simulations will be conducted to prepare the company for effective and timely communication to our stakeholders.
There is strong commitment from senior management and the Board to develop and maintain a robust business continuity management process. This includes threats such as cyber security and data protection, as it pertains not only to our business but also to our customers, through our data-connected products. We have a number of safeguards in place to protect and secure our data, and recognise that ongoing review and improvement of the protection mechanisms we have in place is critical.
We are building a strong culture of security awareness within the business, led by our dedicated cyber security and data protection team. Company policies and procedures are in place, with ongoing assurance reviews and audits from external providers to ensure best practice.