Countryside has policies and procedures in place for the timely identification, assessment and prioritisation of the Group’s material risks and uncertainties. This section describes how these risks are identified, managed and mitigated appropriately in order to deliver the Group’s strategic objectives.

How we manage risk

Risk identification and management is built into every aspect of Countryside’s daily operations, ranging from the appraisal of new sites, assessment of the prospects of planning success, building safely and selling effectively to achieve long-term success through the property market cycle. Risk management is built into standardised processes for each part of the business at every stage of the housebuilding process. Financial risk is managed centrally through maintenance of a strong balance sheet, forward selling new homes and the careful allocation of funds to the right projects, at the right time and in the right locations.

Our approach to risk

Role and responsibilities:

  • Sets the Group strategy
  • Determines the Group’s risk policy and the procedures that are put in place to mitigate exposure to risk
  • Regularly monitors Group risks
  • Reviews the effectiveness of the Group’s risk management and internal control procedures

Role and responsibilities:

  • Has delegated responsibility from the Board to oversee risk management and internal controls
  • Monitors the integrity of the Group’s financial reporting process
  • Monitors the effectiveness of the Internal Audit function and the independence of the external audit

Role and responsibilities:

  • Determines the appropriate controls for the timely identification and management of risk
  • Manages the Group’s risk register
  • Monitors the effective implementation of action plans
  • Reviews reports from the Internal Audit function

Role and responsibilities:

  • Undertakes independent reviews of effectiveness of internal control procedures
  • Reports on effectiveness of management actions
  • Provides assurance to the Audit Committee

Role and responsibilities:

  • Responsible for identification of operational and strategic risks
  • Responsible for ownership and control of specific risks
  • Responsible for establishing and managing the implementation of appropriate action plans

Find out more…