Risk management

Risk Management Controls

The Board asks the Head of Internal Audit to carry out on an annual basis, a full review of enterprise-wide risks to business objectives, so that the Board can update its understanding of how well risks are mitigated by the control environment at Speedy. Risks are identified in a series of workshops held in every key part of the Group and are followed by discussions between the Head of Internal Audit and specialists who can advise on the quality of controls to mitigate the risks identified in the workshops. Physical evidence of the quality of these controls is sought were appropriate.

The Enterprise Risk Management (ERM) programme results identify a number of key risk areas for the Group, which are contained in the Principal Risks and Uncertainties section of Speedy's annual reports. Each member of the Executive Team has at least one risk template to manage, which described the nature of the risk, the events that need to be prevented, the KPIs that measure the probability of these events occurring, the current controls, and a prioritised action plan with names and dates. The updates templates are presented the Board on a regular basis.

The Internal Audit Plan is informed by the ERM programme and the findings from the audits feed into the above process of the Group Board review of business risks and controls.

Principal Risks and Uncertainties

The principal risks and uncertainties with respect to the most recent financial year, can be found in Speedy's latest annual report which can be viewed or downloaded from the Download Centre.