Journey to Best-in-Class
INTERNAL CONTROL
The Board is ultimately responsible to ensure that a robust system of internal control exists and that it is continuously monitored for relevance in an ever changing business environment. The effectiveness of these controls is monitored in various ways and reported by the Audit and Risk Committee.
In 2011 the internal audit functionality was transferred to the major risk areas of the organisation. The internal audit function will be re-visited, and if deemed appropriate by the Board, during 2011/12 in line with the new risk management structure.