41061 Unite AR22 HI-RES WEB-READY - Flipbook - Page 121
STRATEGIC REPORT
GOVERNANCE
FINANCIAL STATEMENTS
OTHER INFORMATION
AUDIT & RISK COMMITTEE
FINANCIAL GOVERNANCE
The Audit & Risk Committee provides oversight for the
Board in respect of the Group’s financial reporting process,
the audit process, the system of internal controls, and the
identification and management of significant risks
“During 2022, the Committee
continued to focus on the quality and
integrity of the financial statements
alongside its oversight of risk and
internal controls.”
Ross Paterson
Chair
Audit & Risk Committee Chair’s overview
COMMITTEE MEMBERSHIP
Ross Paterson
Chair of the Audit & Risk Committee
Ilaria del Beato
Non-Executive Director
Nicky Dulieu
Non-Executive Director
Professor Sir Steve Smith
Non-Executive Director
NUMBER OF MEETINGS
5
ATTENDANCE
100%
During the year, the Audit & Risk Committee continued its
key oversight role for the Board with its specific duties as
set out in its terms of reference to reassure shareholders
that their interests are properly protected in respect of the
Group’s financial management and reporting.
The Audit & Risk Committee works to a structured
programme of activities, with agenda items focused to
coincide with key events in the annual financial reporting
cycle. The Audit & Risk Committee reports regularly to the
Board on its work.
During the year, the Audit & Risk Committee has continued
to monitor the integrity of the Group’s financial statements
and supported the Board with its ongoing monitoring of
the Group’s risk management and internal control systems
in line with the requirements under the UK Corporate
Governance Code. The Audit & Risk Committee determined
the focus of the Group’s internal audit activity, reviewed
findings, and verified that management was appropriately
implementing recommendations. The Audit & Risk
Committee also challenged the approach to assessing the
Group’s ability to continue as a going concern and its likely
loan covenant compliance, by reviewing various scenarios
for future performance.
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