All organisations must be able to demonstrate they are properly run and make the best use of their assets.
Our customers, Board members, staff, and stakeholders all have a right to expect robust management of our business so we can provide the high quality homes and services our customers deserve.
Our compliance team is dedicated to ensuring our management processes are sound, risks are well controlled, we remain as efficient as possible, keep within the law, and maintain an excellent regulatory status. We do this through internal auditing and risk management.
Internal audit Internal audit is an independent assessment of our systems and procedures which identifies how effective our internal systems and controls are and how well staff across the whole organisation comply with them. Each audit makes recommendations on how management controls can be improved.
The service is provided by Grant Thornton LLP, a leading firm of Chartered Accountants and Business Advisors based in London. Grant Thornton reports to the Head of Compliance the Group's Audit Committee, an important sub-committee of the Board. An internal audit plan, and a specified audit timetable is agreed by the Audit Committee each year.
Risk management We identify anything that might prevent us from meeting our business plan objectives and manage those issues to minimise risk and the impact of potential risks.
A high level schedule of the key risks is regularly reviewed by the Group Strategy Team and the Audit Committee and is considered by the Group Board annually. Risk schedules produced for each subsidiary and department are updated every six months and include the risks we think are relevant at the time and clear plans to ensure those risks are well controlled. The Boards of our subsidiary organisations consider and contribute to their specific risk schedules.
The Group also has clear procedures for managing risk at regional, departmental and project levels.