The Board’s review of the system of risk management and internal control.
Each year, an extensive process of self-certification operates throughout the Group whereby the effectiveness of internal controls and compliance with the Group’s Business Principles and policies are assessed. Self-certification is completed both at the half year and full year. The results of the annual process, together with the conclusions of the internal reviews by internal audit, inform the annual assessment of the effectiveness of the systems of risk management and internal controls performed by the Audit Committee and the SHESEC Committee, on behalf of the Board, in 2017. Where necessary improvements and enhancements to financial and commercial controls in the North America Business unit have been recommended and will be implemented in 2018.
The Board, with the advice of the Audit Committee, has reviewed the effectiveness of the system of risk management and internal control, for the period from 1 January 2017 to the date of this report and is satisfied that the Group complies with the FRC’s Guidance. The Board will continue to routinely challenge management in order to ensure that the system of risk management and internal control is constantly improving and remains fit for purpose.