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 risk management and internal control and compliance with Group business principles and policies are assessed. The self-certification was completed at the half year and full year. The results of the self-certifications, together with the conclusions of the reviews by the Internal Audit team, inform the annual assessment performed by the Audit Committee.
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 2014 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.