Experian 2013 Annual Report Download - page 62
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Please find page 62 of the 2013 Experian annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Governance framework:
Advice, review, recommendation, Delegated Board
monitoring, executive forum authority flow committees
Corporate governance report
Group Operating Committee
The remit of this executive group includes identifying,
debating and achieving consensus on issues involving
strategy, growth, people and culture and operational
efficiency. A further focus of this group, which is
comprised of the most senior executives from the Group,
is to ensure that there is strong communication and
co-operative working relationships amongst the top team.
The meetings tend to be issues-oriented and focus on
selected important Group issues worthy of debate.
Strategic project committees
(global and regional)
These committees are comprised of the most senior global
and regional executives. The remit of the committees 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 conclusions of the
committees are then considered by the relevant Group
company for approval.
Risk management committees
(executive, regional and global operations)
The primary responsibility of the Executive Risk Management
Committee (‘ERMC’), which is comprised of senior Group
executives including the executive directors and the
Company Secretary, is to oversee the management of global
risks. The regional risk committees oversee the management
of regional risks consistent with Experian’s risk appetite,
strategies and objectives. Global operational related risks,
including technology and project risks, are monitored by a
global operations risk management committee.
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.
Board
See Board section
which follows.
Principal subsidiaries
These are Group
companies to which the
Board has delegated
certain decision-making
powers, for example,
the implementation
of 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
Audit
Committee
See Audit
Committee
report.
Remuneration
Committee
See
Remuneration
Committee
report.
Nomination
and Corporate
Governance
Committee
See Nomination
and Corporate
Governance
Committee
report.
Global Delegated Authorities Matrix
This key document pieces together the schedule
of matters reserved to the Board, the terms of
reference of the Board committees as well as
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 the monetary limits
of such delegations. 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. There are also regional matrices in place.
60 Experian Annual Report 2013 Governance