Protecting the business from operational and reputational risk is an essential part of the Board’s role. During the year the business has continued to make progress towards implementing the key areas of our strategy. This progress continued despite the challenging trading environment in which the business was operating.The Board, supported by the Audit Committee, maintained close oversight and monitoring of the key business risks throughout this change, assessing the progress of mitigating activities in the context of our risk appetite. The Group Risk Profile, owned by the Board, is compiled by Group Risk, using business area risk registers and one-on-one interviews with each Board member and the director of each business unit. Independence is embedded in the process with oversight from the Audit Committee, ensuring that the risks included in the Group Risk Profile continue to reflect the business’ strategic objectives. The Internal Audit
plan is then mapped to the Group Risk Profi le to provide
assurance over mitigating activities.