Board Governance
The Board and its committees oversee strategy, risk, compensation, succession and governance matters. Management provides a briefing pack, executive summary and supporting appendices before each meeting. Late additions follow the secretary’s circulation process, even when they replace a summary already distributed.
Committee Structure
Management forums have defined remits, membership and escalation routes. The Committee on Committees maintains the register and reviews proposals to combine forums. Joint meetings retain separate minutes until the consolidation is approved.
Internal Audit
Internal Audit provides independent, objective assurance regarding governance, risk management and internal controls. A methodology review identified inconsistent treatment of prior findings across several acquired businesses. The function introduced a common testing guide and a reconciliation schedule. Implementation remains open while the teams agree how to classify their earlier results.
Annual Conflict of Interest Questionnaire
All Usual colleagues are required to complete an annual Conflict of Interest Questionnaire. During a 2024 audit, Internal Audit determined that the 2023 questionnaire had not been distributed. A remediation plan was established. The subsequent remediation audit was unable to determine whether remediation had occurred. The 2026 questionnaire is currently under review by Internal Audit.
The AI Center of Excellence works with Internal Audit, Legal and IT Security on policy, use cases and evidence.