Page 44 - DWF Annual Report 2017

Supporting Boards and Committees

Committee/Board and Purpose Objectives

Committee: • To ensure that financial statements are understandable, transparent
Audit Committee (AC). and reliable
Meeting Frequency: • To ensure the risk management process is comprehensive and
Minimum three times per year. ongoing, rather than partial and periodic
Purpose:
To oversee financial reporting and disclosure. • To help achieve an organisation-wide commitment to strong and
effective internal controls, emanating from the top

• To continually communicate with senior management
• To ensure the internal auditors’ access to the Audit Committee,
encouraging communication beyond scheduled committee meetings

• To review internal audit plans, reports and significant findings
• To establish a direct reporting relationship with the external auditors.

Committee: • To take an overview of the implementation of the risk and compliance
Compliance and Risk Management Committee management strategy
(CRMC).
• Review corporate policies relating to compliance with laws and regulations,
Meeting Frequency: ethics, conflicts of interest, and the investigation of misconduct and fraud
Monthly (exc. August, December, April).
Purpose: • Review current and pending corporate governance-related litigation or
To advise the Board on the identification, regulatory proceedings to which the business is a party
coordination and prioritisation of risk management
issues throughout the business and to develop a • To encourage and foster an awareness of risk management at all levels
strategy for risk management. in the business
• To identify new areas of potential risk to the business and to ensure that
the business’s systems of compliance are robust and fit for purpose in
an increasingly regulated environment
• To consider any risk and compliance matters that may arise from any
companies, limited liability partnerships or alternative business structures
in which the business may hold a proprietary or legal interest.

Committee: • To change attitudes and practices by promoting a clear dialogue with our
Engaging People Executive (EPE). people to ensure they feel connected to, and interested in, our business so
that they can contribute fully
Meeting Frequency:
Bi-monthly. • To promote ownership of our people strategy across the business and
ensure initiatives and resources are aligned appropriately.
Purpose:
To sponsor initiatives that inspire our people to
deliver our business strategy.