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Wool Stocktake : AWI Annual Report 2017-18
CORPORATE SERVICES STRATEGY EXPENDITURE DURING 2017/18 $1,665,000 project expenditure FINANCE SERVICES INVESTMENT FOCUS Risk Management Manage the company’s global investment and foreign currency exposure within the approved guidelines. Financial Management Provide the business with timely, accurate and useful reporting to enable effective decision making and ensure financial corporate compliance. STRATEGIC TARGETS Targets for three-year period 2016/17 to 2018/19 Progress during 2017/18 1. Compliance – no default notices for financial reporting. Achieved for 2017/18. During 2017/18 AWI met all its financial reporting requirements and received no default notices. 2. Risk – Manage the group reserves policy ensuring the reserves are maintained to target. Achieved for 2017/18. The group reserves policy was adhered to throughout the year. 3. Provide financial reports to the Board/management and audited financial statements. Achieved for 2017/18. The Board and management have been provided with financial reports regularly during the year at every Board/management meeting. The accounts for all subsidiaries have been completed and filed in accordance with local requirements. PEOPLE SERVICES INVESTMENT FOCUS Talent Acquisition Identify needed skills and competencies and look at alternative ways to source talent. Talent Management Building leadership/workforce capability to ensure the skill sets of our people are relevant and will feed succession plans. STRATEGIC TARGETS Targets for three-year period 2016/17 to 2018/19 Progress during 2017/18 1. Talent Acquisition – talent recruited matches business needs. On target. A number of key hires were made bringing needed talent into the business as well as feeding succession plans. 2. Engagement – Year on year improvement in employee engagement measure. In progress. A global employee engagement survey has been created with launch due in the first quarter of the 2018/2019 year. 3. Workplace Culture – Compliance with local and international employment legal requirements and key HR policies globally. On target. Compliance training was rolled out globally to ensure employee adherence to key HR policies. 100% completion achieved on Code of Conduct roll out in March/April 2018. LEGAL SERVICES INVESTMENT FOCUS Company Secretary Services Provide company secretary services as required. Legal Support Provide commercially sound legal advice and support as required. Intellectual Property Manage AWI's IP portfolio, trademark registrations and support Woolmark licensing program. REPORT OF 2017/18 OPERATIONS – BUSINESS SERVICES 57
AWI Annual Report 2016-17