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| Home > Governance > |
| Earnings Protection |
Subject to the prevailing rules and regulations, under the supervision of the Audit Committee, the designated Financial Officers and Internal Auditors are required to maintain HD Faculty™'s “Earnings Protection” key measurement indicators of the basic earnings power of HD Faculty™. |
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Especially, in a world where the trend is driven by the latest technologies and deregulation, which creates opportunities for entry into new growth markets both local and overseas, whilst at the same time the increasing complexity of regulatory requirements present various challenges, which include, but are not limited to, meeting and satisfying the relevant regulatory accounting and legal compliance issues, as may be amended and/or substituted from time to time. |
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Therefore, HD Faculty™ is committed to ensuring that, from time to time, its Chief Financial Officer and the finance department personnel maintain key measurement indicators of the basic long-term earnings power of HD Faculty™, which include the following: |
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| (a) | measurement of profitability; |
| (b) | returns on capital; |
| (c) | pre-tax coverage ratio; |
| (d) | profit margins; |
| (e) | earnings on asset segments; |
| (f) | source of future earnings growth; |
| (g) | consistency of core earnings; |
| (h) | exceptional or extraordinary items; |
| (i) | pension service coverage; |
| (j) | ability to finance growth internally; |
| (k) | inflation-adjusted earning capacity; |
| (l) | tax environment; |
| (m) | dividend cover; |
| (n) | dividend and payout ratios; |
| (o) | restrictions on profit repatriation; and |
| (p) | provision in respect to smoothing of profits. |
The awareness of the foregoing enables Internal Audit resources to focus and face the day's mind-boggling issues effectively without wavering. |
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