March 2025 audit committee.
This is the register of the most significant risks to the overall success of our objectives.
We capture risks through a consistent approach to identifying, assessing, prioritising and mitigating risk, as well as a risk hierarchy.
Corporate risks are longer term, more stable or tolerated, ‘enabling’ activity risks. Strategic risks are more volatile, shorter term threats to current objectives.
Throughout the year, risks are:
- considered by directorate management boards
- challenged by the senior management board (SMB)
- scrutinised by the audit committee
- presented to cabinet panel quarterly.
An annual report on risk management is also presented to the audit committee to provide assurance of best practice.