Policy & Implementation
Monitoring the Business Policy
Due to the importance of these policies International Power (IPR) has taken the following steps to ensure these Business Policies are applied in practice as an integral part of managing its businesses:
- Each current IPR Personnel and newly hired IPR Personnel will receive a copy of the Code of Business Policies and each must acknowledge that he or she has reviewed it. A copy of the Code will be placed on the IPR website.
- Each year the Head of Internal Audit conducts a review to determine compliance with the Business Policies. As part of this review, the head of Internal Audit will send a questionnaire to all executives, Regional Directors, Heads of Department and Asset Managers and such other employees and representatives as he/she shall determine, relating to compliance with these Business Policies. The Head of Internal Audit will thereafter report the results of the review to the Audit Committee of the Board of Directors.
- The IPR’s independent auditors will, in reporting on their examination of IPR’s financial statements, advise the Board of Directors whether or not any matter has come to their attention in the course of such examination which has led them to believe that the Code of Business Policies have not been or are not being complied with. The cooperation of every IPR Personnel is required in assuring that violations of the Business Policies are brought to the attention of IPR in accordance with the terms of these policies. IPR Personnel who report violations can do so without fear of retaliation, reprisal or prejudice. Consistent with IPR’s obligations under the law and its whistleblowing policy, IPR will keep the identity of the IPR Personnel making the report confidential. Similarly, IPR will keep confidential the identity of the individual against whom a violation is alleged, unless it is determined that a violation has occurred. If, after investigation in accordance with the whistleblowing policy, a violation is found to have occurred, appropriate disciplinary action, up to and including, if deemed appropriate, dismissal, will be taken with respect to the individual or individuals involved in the violation. The foregoing, however, shall not in any way limit or restrict any of IPR’s other rights or remedies. In order to avoid inadvertent violations, employees are encouraged to ask questions when there is uncertainty as to whether or not some act or conduct complies with the Business Policies. To encourage open communication, employees may choose to discuss the matter with their manager or supervisor, or with the Company Secretary and/or Head of Internal Audit.
