The pursuit and management of risk is governed by our Risk Management and Assurance Framework, which is regularly appraised and referenced in decision-making by the Board and overseen through the work of the Group Audit and Risk Committee. Risk is dynamically mapped and managed at all levels of activity and decision-making. Ultimately, strategic risks are documented and appraised within the Group Strategic Risk Register, which is also informed and evaluated each year against the Sector Risk Profile issued by the Regulator of Social Housing.
The Group Audit & Risk Committee plays a pivotal role in our approach to risk management. The Committee's detailed focus provides valuable assurances to the Board. Alongside its traditional role of agreeing and considering an annual plan of risk-based internal audits, the Committee has continued its programme of strategic risk oversight, including determining the range of stress scenarios against which the financial business plan is tested.