Page 22 - Broadland Housing Financial Report 78pp A4

Broadland Housing Association Board “ t has been a p rivile e to serve as
This Board is the ultimate governing body of the Group. Chair of the Group Audit and Risk
It comprises up to 11 non-Executive Directors and the Committee for the last 7 y ears.
Group Chief Executive and meets approximately every eight
weeks for formal business meetings. It holds Board Away The assurance provided by internal
Days at least annually in order for the BHA Board, and where and external audit is vital to ensure
appropriate Board members from across the Group, to come the or anisation remains nancially
together to discuss wider strategic issues. viable and delivers the outcomes

Our Board members receive remuneration to compensate sou ht by the ambitious corporate
them for the time they devote fulfilling their role and the
valuable contribution they make. Remuneration has also strate y on Barber ”
helped to attract the skills that the Board requires.
Members are drawn from a b road range of professional
and business backgrounds to ensure there is an optimum Committee gains comfort that the Group has appropriate
mix of skills and expertise present on the Board. We are also systems of internal control and is able to comply with the
keen there is a t enant voice on the Board, and at the time of RSH’s expectations in this area.
writing have one tenant Board member and have recruited
two others who will start later in the year. Group Remuneration and Nomination Committee
Previously named the Group Remuneration and Membership
Board delegation Committee, this Committee amended its name during the
The Board delegates some of its responsibilities to the Group course of the financial year and revised its terms of reference
Audit and Risk Committee and the Group Remuneration and to better reflect its role in nominations to the BHA Board.
Nomination Committee. These Committees have clear terms The Committee supports the Board in the discharge of its
of reference and delegated authority w hich are set out in the duties relating to establishing and reviewing the remuneration
,
Group Standing Orders and the Group Delegation Scheme. package and terms and conditions of the Executive T e am.
They report back to the Board regularly and, where The Committee also considers salary and terms and
necessary t heir recommendations are fully considered and conditions for other employees as appropriate and approves
,
approved. These Committees are chaired by a n on-executive applications for shareholding membership. In addition,
member of the parent company Board and have a G roup- the Group Remuneration and Nomination Committee
wide remit. Matters which fall outside of the remit of these two oversees the process for Board member appraisal and
Committees and need consideration outside of the formal makes recommendation to the Board in relation to Board
Board meeting may be dealt with on an ad hoc basis by a member appointments.
T a sk and Finish Group, comprising of both non-executive and T o wards the end of the financial year t he Committee oversaw
,
executive directors.
the recruitment of a n ew Chair of Group Audit and Risk
,
Group Audit and Risk Committee Committee to replace the outgoing Chair s tanding down at
the next AGM after serving the maximum term of service.
The role of this Committee is to oversee the work of both the As part of its succession planning role, the Committee is also
internal and external audit function and to oversee the risk due to oversee recruitment of new tenant Board members
management framework and internal control framework for ahead of the AGM.
the Group. The Committee reviews the audited financial
statements for all parts of the Group and recommends Internal controls assurance
them to the relevant Board for approval. It submits an annual The Board acknowledges its overall responsibility a pplicable
,
report on internal controls to the parent company board. to all organisations within the Group, for establishing and
Through the reports it receives, the Group Audit and Risk maintaining the system of internal control and for reviewing its
effectiveness. The system of internal control is designed to
manage, rather than eliminate, the risk of failure to achieve
business objectives, and to provide reasonable, and not
absolute, assurance against material misstatement or loss.
The process for identifying, evaluating and managing the
significant risks faced by the Group is ongoing, and has been
in place throughout the period commencing 1 A pril 2019 up
to the date of approval of the report and financial statements.
Ke e lements of the control framework include:
y
• B oard-approved terms of reference and delegated
authority for Group Audit and Risk Committee
Celebrating opening of Trunch with Board, tenants • a nnual report to the Board from the Group Audit and Risk
and North Norfolk District Council and partners Committee on risk management and internal controls
throughout the year

22 Broadland Housing Group | Financial Report and Accounts 2020

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