The Group Combined Board is responsible for the strategic direction, plans for oversight of Group performance, and for effective governance across the business. The Board has reviewed performance against the regulatory standards and we are in full compliance with the Governance and Financial Viability Standard and all other regulatory standards.
This is achieved with the support of the Executive Board, Senior Leadership Team, advisory panels and six committees, as listed below, to which certain responsibilities are delegated:
- Audit and Risk Committee;
- People and Culture Committee;
- Customer Service and Performance Committee;
- Treasury Committee;
- Development and Assets Oversight Committee; and,
- Integration and Transformation Committee.
The Audit and Risk and People and Culture Committees are designated as the principal committees in the Group, given the extent of powers delegated to them by the Group Combined Board. An overview of these committees has been provided below.
The members of the Group Combined Board also hold positions as Directors of other legal entities in the Group and/or are members of the committees outlined above. They are joined on these boards and supported on committees by members of the Executive Board and Senior Leadership Team.
The governance structure includes independent directors, whose role is to challenge and scrutinise the performance of management, including Executive Directors, and to help develop proposals on strategy. They also review the performance of management in meeting agreed goals and objectives as well as monitor the Group’s risk profile. This is facilitated through an established governance framework with regular reporting from governance structures and is clearly set out within the standing orders to consider clear oversight from the Audit and Risk Committee.
Insurance policies in place indemnify Board Members and officers against liability when acting for the Group.
In exercising its duty to promote the success of the Group, the Board is responsible for overseeing the management of and, in so doing, may exercise its powers, subject to any relevant laws, regulations and Abri’s articles of association.
Where legally necessary, decisions affecting individual subsidiaries are formally enacted by the individual boards. Board members are selected through an open, competitive process. They contribute a wide range of professional, commercial, and other relevant experience and expertise.
Abri is committed to high standards of corporate governance and at its inception in November 2019, adopted the UK Corporate Governance Code 2018. Abri has a strong governance framework and in March 2021, following an In-Depth Assessment completed by the Regulator of Social Housing maintained its G1 governance and V1 financial viability rating, the highest ratings achievable. The Group has a comprehensive range of policies and systems in place to ensure that it is well-managed, with effective oversight and controls.
