WE BELIEVE THAT RISK IS BEST MANAGED BY A COMBINATION OF THE FOLLOWING:
- Formal risk management processes as described in this report.
- The Board and senior management leading by example.
- Alignment through promoting colleague shareholding in Dunelm.
- Embedding our culture and values.
Whilst we have formal processes for identifying, assessing and reviewing risk, the Board as a whole takes responsibility for the management of risk throughout the business. In addition, our Principal Risks and Uncertainties oversees the risk management process as part of its activities.
Risk Management Framework
The Board confirms that:
- There is an ongoing process for identifying, evaluating and managing the principal risks faced by the Group, including to identify emerging risk.
- The systems have been in place for the year under review and up to the date of approval of the Annual Report and financial statements.
- They are regularly reviewed by the Board.
- The systems accord with the guidance to Audit Committees issued by the Financial Reporting Council dated April 2016.