Corporate governance

The board recognises the importance of a sound system of corporate governance and internal control.

The board has, for several years, decided to adopt the Quoted Companies Alliance Corporate Governance Code (“QCA Code”) and to apply the principles set out in the QCA Code. The board is satisfied the QCA Code provides a suitable corporate governance framework for the Group. It is the board’s intention to disclose and report on the Group’s corporate governance structures and processes. It will continue to develop its corporate governance in response to future changes in official standards and public expectations. The Group complies with the disclosures required under the QCA Code in its annual report and on this website. A link to the index of those disclosures is given below.

A detailed review of the performance and financial position of the Group is included in its annual report. The board uses the financial statements and the report of the directors to present a balanced and understandable assessment of the Group’s position and prospects.