Good corporate governance is an integral part of our Group. It ensures proper oversight by the Board and ensures that our actions are closely aligned with our strategy.
Our relatively small number of staff and clear reporting lines enable the Executive Directors to be involved in and aware of all of our actions and processes and allow proper oversight by the Board. Good corporate governance is more than compliance with rules and regulations; it is an integral part of how we do business. Our internal control, risk management and internal audit procedures ensure that proper controls are in place. We also encourage our staff to review their own and each other's activities and outputs to confirm that correct decisions are made - and to challenge each other if they think a matter appears unusual or a process can be improved.
The Board continued to apply good governance practices during the year ended 31 March 2016 and considers that the Company fully complied with the UK Corporate Governance Code (the Code). The Annual Report and Accounts 2016 outlines how we applied the Code’s principles and provisions throughout the year. We report against the Code which applies to companies with reporting periods beginning on or after 1 October 2014.
A copy of the Code is available to view at www.frc.org.uk.