We have focused on ensuring that Bytes has the right corporate governance framework for our needs, both now and as we continue to grow; one that enables clear delegation of authority from the Board to executive management and beyond, with clear decision-making and the structures in place to ensure we remain focused on delivering our strategic priorities.
Risk and opportunity are two sides of the same coin. By understanding, monitoring and controlling the risks we face in a skilled, collaborative way, we ensure that Bytes takes advantage of new opportunities.
Our Board has overall responsibility for risk. This includes establishing and maintaining our risk management framework and internal control systems and setting our risk appetite. In doing this it receives particular support from our Audit Committee, although – through their skills and diligence – everyone at Bytes plays a part in protecting our business from risk and making the most of our opportunities.
Our approach to risk is based on enterprise risk management – a process of identifying and addressing potential barriers to us achieving our strategic objectives and realising our opportunities for competitive advantage.