The Chief Executive is responsible for the day-to-day operations of the group and the development of strategic plans for consideration by the Board.

The Board has two principal committees: an Audit Committee and a Remuneration Committee, whose terms of reference are approved by the Board.

Identification and evaluation of business risk

The Board regularly reviews and evaluates significant risk areas in terms of probability of occurrence and likely impact.

The Board is responsible for assessing these risks and for implementing control and reporting procedures to ensure the risks are properly managed, again in terms of minimisation of probability of occurrence and impact.

The Board receives regular updates on the key risks and the related controls.

Internal control

The directors acknowledge that they are responsible for the group’s system of internal control and for reviewing its effectiveness. The system is designed to manage rather than eliminate the risk of failure to achieve the group’s stated objectives, and can only provide reasonable, and not absolute, assurances against material (including financial) misstatement or loss.

The procedures used to review the effectiveness of the system of internal (including financial) control are reviewed by the Board.

ISO Certified

Optimum Group of Companies SF has established and applied the following management systems;

• Quality management systems
• Environmental management systems
• Health and Safety management systems

Optimum is ISO certified and owns a certificate to the same issued by UKAS Quality Assurance for quality management systems No.XXXXX.