Page 30 - Annual Review 2015-2016

Governance

Good corporate governance enables of common direction for our people and likely to be found. This enables us to be more
us to create sustainable value for the guidelines for their day-to-day behaviour. responsive and therefore more effective on
benefit of our clients, our people and the Those policies are monitored and tested by an dealing with potential issues before they arise,
communities in which we live and work. audit team who regularly undertake assessments and therefore protecting the business.
This part of the review describes the to ensure compliance. This year also saw the formation of our
structures, policies and processes that Audit Committee.
facilitate the effective management of Our changing approach
our business.
Over the last 12 months, our internal audit function
evolved to a risk based approach to governance.
Our Risk Management and Governance
As our business continues to expand, it is essential The primary purpose of the Audit Committee is
strategy follows the execution of wider
that our approach to governance adapts with it, in to provide oversight of our financial reporting
business strategy, so we can anticipate
order to remain fit for purpose. process, the audit process and our system of
and identify the wider regulatory outcomes
internal controls which keep us compliant with
and address them accordingly to ensure
We have also moved to a system that reviews the necessary laws and regulations. This move
compliance. Business improvement is
operational streams as opposed to individual was an essential step in the development of
also central to our Risk Management and
partners. For example; complete client file our corporate governance.
Governance strategy.
audit, review of management systems, MI
reports, trends in complaints or outstanding
To achieve this we put policies in place which
debt. The change in approach comes from
provide mandatory ways of working, backed
a clear understanding of where the risks are
by the DWF values which provide a sense