Common use of Risk Management and Identification Clause in Contracts

Risk Management and Identification. The Management Entity shall annually review and discuss with the Board its processes and policies on risk identification, management and assessment in all areas of YRF’s business, including financial and accounting. Areas of focus shall include YRF’s policies and other matters relating to YRF’s investments, cash management, financial risk exposures and the steps taken by the Management Entity to monitor and mitigate or otherwise control these exposures and to identify future risks. The Management Entity will provide regular reports to the Board about such risk assessment, material issues affecting the quality or integrity of YRF’s financial statements, compliance with legal or regulatory requirements and other matters as the Board deems appropriate.