Experian 2016 Annual Report Download - page 66

Corporate governance report
Governance framework
Delegated
authority flow
Board
committees
Board
See Board section
which follows.
Principal subsidiaries
These are Group companies
to which the Board has
delegated certain decision-
making powers, for example
implementing decisions
agreed in principle by
the Board; executive
management of the
operations of the Group
within the strategy and
budget approved by the
Board; acquisitions and
disposals with a value up
to US$20m, and capital
expenditure projects.
Executive
management team
Operating businesses
Global Delegated Authorities Matrix
This key document comprises the schedule of matters
reserved to the Board, the Board committees’ terms of
reference and the authority levels for the Group’s principal
subsidiaries, directors and senior executives. For matters not
reserved to the Board, the matrix prescribes the cascade of
authorities delegated throughout the Group by respective
Group companies, together with their monetary limits. The
matrix is reviewed and refreshed regularly and the Board
monitors the exercise of delegations to the Group’s principal
subsidiaries, which are reported to it at each Board meeting.
Regional matrices are also in place.
Group Operating Committee
The Committee comprises the most senior
executives from the Group. Its remit includes
identifying, debating and achieving consensus
on issues involving strategy, growth, people
and culture, and operational efficiency. It also
focuses on ensuring strong communication
and co-operative working relationships among
the top team. Its meetings tend to be issues
oriented and focus on selected Group issues
worthy of debate.
Internal Audit
Internal Audit conducts a range of independent
audit reviews throughout the Group during the
year and is represented at each Audit Committee
meeting. Internal Audit’s plans, results and
key findings are presented to and discussed
with the Audit Committee. The internal audit
programme and methodology are aligned to the
risk categories and risk assessment parameters
established by the global risk management
function. It also makes use of risk assessment
information at a business level, in planning and
conducting its audits.
Strategic project committees
(global and regional)
These committees comprise the most senior
global and regional executives. Their remit
is to oversee a process to ensure that all
strategic projects are appropriately resourced,
risk assessed and commercially, financially
and technically appraised. Depending on the
outcome of the discussions, the committees’
conclusions are then considered by the Board
of the relevant Group company for approval.
Risk management committees
(executive and regional)
The Executive Risk Management Committee
comprises senior Group executives, including
the executive directors and the Company
Secretary. Its primary responsibility is to oversee
the management of global risks. The regional
risk management committees oversee the
management of regional risks, consistent with
Experian’s risk appetite, strategies and objectives,
and are comprised of senior regional leaders.
Audit
Committee
See Audit
Committee report.
Nomination
and Corporate
Governance
Committee
See Nomination
and Corporate
Governance
Committee report.
Remuneration
Committee
See Remuneration
Committee report.
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64 Governance •Corporate governance report