Notes To The Financial Statements (Continued) 30 June 2015 9. REMUNERATION OF KEY MANAGEMENT PERSONNEL 2015 US$ 2014 US$ The remuneration of the directors and senior management is set out below in aggregate as required by IAS 24 Short-term employee benefits 159 318 159 992 Pension contributions 12 938 11 530 172 256 171 522 10. FINANCIAL RISK MANGEMENT OBJECTIVES AND POLICIES The organisation has overall responsibility for the determination of the organisation's risk management objectives and policies and, whilst retaining ultimate responsibility for them, it has delegated the authority for designing and operating processes that ensure the effective implementation of the objectives and policies to the organisation's finance function. The organisation's management also reviews the risk management policies and processes and report their findings to the organisation. The organisation is exposed through its operations to the following financial risks: 1. Credit risk 2. Fair value or cash flow interest rate risk 3. Liquidity risk 56 Legal Resources Foundation Annual Report 2015