Risk management

AMEC's long-term success depends on ensuring that effective risk management procedures are central to our operations and our business activity and underpins all the decisions we make. The Board of AMEC plc is responsible to shareholders for the management of the company and for the protection of its assets.

In this capacity, it is ultimately responsible for implementing AMEC's internal control systems and for reviewing their effectiveness. AMEC uses a risk management process which is incorporated into the AMEC Mandatory Procedures. This process involves the identification of risks at the gross and current level by projects, businesses and corporate function.

Following a review of this process in 2007, quarterly risk review meetings comprising representatives from the businesses and functions have been instigated. Risk indicators have also been reviewed and it was concluded that their contribution to the risk management processes was poor and therefore their collection was discontinued.