Risk management and internal control
Risk management involves the identification and evaluation of risks and is the responsibility of the Group Board. The Group’s ability to manage risk is continually growing through the focus on risk management capability to ensure that it remains robust and that emerging risks are identified, assessed and managed effectively.
The risk management process incorporates both top down and bottom up elements to the identification, evaluation and management of risks, and all risks evaluated are referenced to the achievement of the Group’s Strategic Initiatives. Risks are continually evaluated using consistent measurement criteria. Mitigating controls are identified and opportunities for the enhancement of the Group’s control environment are implemented.
Further information on our risk management procedures is included in the Corporate Governance link below.
There are a number of potential risks and uncertainties which could have a material impact on SIG’s long term performance. The risk identification, monitoring and reporting framework, together with the key risks and uncertainties identified as part of the Group’s risk management process, are highlighted in the diagram to the right and using the links below.