Unilever 2010 Annual Report Download - page 57

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54 Unilever Annual Report and Accounts 2010
Report of the Directors Governance
Our requirements and compliance continued
The United Kingdom
PLC is required, as a company that is incorporated in the UK
andlisted on the London Stock Exchange, to state how it has
applied the main principles and how far it has complied with
the provisions set out in Section 1 of the 2008 UK Combined
Code on Corporate Governance (‘the Combined Code’),
acopyof which is available at www.frc.org.uk.
In the preceding pages we have described how we have applied
the main principles and the provisions in the Combined Code.
In2010, PLC complied with all Code provisions.
Risk management and control
Our principal risks and our approach to risk management and
systems of internal control are described on pages 33 to 39.
This approach to risk management and systems of internal
control is in line with the recommendations in the report on
‘Internal Control – Revised Guidance for Directors on the UK
Combined Code’ (‘The Turnbull Guidance’).
The effectiveness of the system of internal control, including
processes in relation to financial reporting and preparation
ofconsolidated financial statements, has been reviewed by the
AuditCommittee.
The Audit Committee reviewed Unilever’s overall approach
to risk management and control, and its processes, outcomes
and disclosure, and details of the activities of the Audit
Committee in relation to this can be found in the Report of the
Audit Committee on pages 56 and 57.
It is Unilever’s practice to bring acquired companies within the
Group’s governance procedures as soon as is practicable and
inany event by the end of the first full year of operation.