Risk management and internal control systems: introduction

Corio manages its operations from a holding company that is managed by the Management Board and which encompasses the following functions: Investor Relations, Public Relations, Strategy & Asset Allocation, Treasury, Finance & Control, Legal & Compliance, Information Management, Tax, Risk Management and Human Resources. The operations are managed primary by five business units, which are directly linked to the countries and regions in which Corio is active. These business units are responsible for all operational functions within their individual areas of activity. Corio is therefore a highly decentralised organisation that can respond quickly and properly to changing market circumstances, seize opportunities and identify risks at an early stage.

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Risk assessment

Corio has a structured, pro-active risk management system.

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Strategic

Every year, the strategy is evaluated by the Management Board and adjusted where necessary.

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Operational

The operational risks arise in the context of asset management, property management and financing, and in the context of the support processes in such areas as human resources, information management and tax.

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Asset management

All investments, developments, redevelopments and disposals are assessed on the basis of an investment or disposal proposal.

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Property management

These risks are addressed by taking timely action in relation to forthcoming lease expiries, contract revisions and rent reviews, screening new tenants for creditworthiness and actively monitoring accounts receivable and the tenant mix.

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Financing

The holding company is responsible for the financing of Corio on the basis of defined guidelines and procedures.

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Information management and business continuity

Corio has a centralised information management structure with two areas of focus: business information support, and ICT infrastructure.

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Tax position

Corio constantly monitors significant risks concerning the company’s tax position.

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Human resources

The section on corporate social responsibility contained elsewhere in this annual report contains a detailed description of the way in which Corio organises its human resource management.

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