Trustees' Report and Accounts - Canal & River Trust

The Waterways
Ombudsman
Scheme
Risk
management
Internal
control
An independent Waterways Ombudsman
is available to consider complaints against
the Trust that are not resolved through its
own internal complaints procedure. The
terms of the scheme under which the
Ombudsman operates are available from
the Waterways Ombudsman’s website
(www.waterways-ombudsman.org).
The current Ombudsman, Andrew Walker,
was appointed in November 2012 by
the Waterways Ombudsman Committee
(a committee comprising a majority of
persons who are not connected with the
Trust), following an advertisement and
open competition for the post. Andrew
previously spent four years as the Office
of the Telecommunications Ombudsman,
a role he left in June 2012. Andrew’s
predecessor as Waterways Ombudsman
was Hilary Bainbridge, a full member
of the British and Irish Ombudsmen
Association which has strict independence
criteria for such membership. She was
reappointed Waterways Ombudsman by
the Committee for a second term of three
years in March 2008.
Under the Waterways Ombudsman
Scheme, the Ombudsman may consider
complaints against the Trust by users and
others that have not been resolved under
the Trust’s internal complaints procedure.
It is a non-statutory scheme funded by the
Trust. More information on the work of the
Ombudsman can be found on the website
www.waterways-ombudsman.org
The Trustees acknowledge their
responsibility for defining the Trust’s risk
appetite and tolerance and maintaining
a sound risk management system. The
Trustees, with the advice of the Audit
Committee, has satisfied itself that
appropriate systems are in place to enable
it to identify, assess and manage key risks.
Risks are identified in each directorate
operating plan and are reviewed by the
executive directors and the Trustees. The
key risks are subject to regular review
by the executive directors to identify new
and changing risks and updated at each
meeting of the Audit Committee. The
Chairman of the Audit Committee reports
the issues discussed and conclusions
reached relating to the effectiveness of
risk management and internal control
systems to the following Board of Trustees
meeting. The Trustees also consider
specific reports on key risks, including
the consequences of asset failure.
This is supplemented by on-going risk
assessments in each directorate jointly
by management and internal audit.
The system of risk management and internal
control is designed to manage rather than
eliminate the risk of failure to achieve the
Trust’s objectives, and can provide only
reasonable and not absolute assurance
against material misstatement or loss.
A process of review of the effectiveness
of internal controls and compliance with
the Trust’s standards has been established.
The chief executive reviews with each
director during the annual corporate
governance review a representation of
assurance outlining how risk management
and the control environment has provided
reasonable assurance of effective and
efficient operations throughout the period.
Based on these reviews, a statement is
given to the Audit Committee summarising
the significant risks, controls and required
action points.
Trustees’ Report & Accounts 43