Our governance and business ethics objectives are supported by our robust risk management processes. We use a combination of risk assessments, audit and fraud reviews to monitor and manage risk throughout the company.
The decrease in the number of risk assessments conducted during the year reflects a change in strategy and approach. We now assess key processes from end-toend, rather than reviewing a specific function or division within the business. This new approach yields improved insights because it cuts across functions and divisions. It also reduces the volume of assessments undertaken during each cycle.
It is tempting to review the trend suggested in the preceding table as a positive indication of how well our ethics awareness training, and corruption and fraud detection processes are working, and this may indeed be partly the case, but the nature of disciplinary cases remains dynamic. The change in statistics indicates neither an improvement nor a worsening of environment. We recognise that it is unlikely a business the size of ours will ever be free from fraud entirely and that, to an extent, the better we become at detecting it, the more effectively it will be concealed. Overall, our main goal remains to have procedures in place that show that we are proactively detecting, investigating, and penalising wrongdoing.