Risk is the threat that an event or action will adversely affect an organisation's ability to achieve its objectives and to successfully execute its strategies. Risk management is the process by which risks are identified, evaluated and controlled.
We are committed to the effective management of risk at every level so that we can:
- safeguard and protect public money to ensure that our services deliver value for money
- mitigate the risks to the delivery of our medium and long term goals for the community
- identify and mitigate any risks that could potentially affect the Health, Safety and well-being of the Mid Devon community, our customers and our staff
- safeguard and protect the Council's assets, reputation and staff
- enhance and protect the local environment
- improve the way we deliver our services
- promote a risk aware culture in order to avoid unnecessary liabilities and costs, but to encourage the taking of calculated risks in pursuit of opportunities that benefit the Organisation.
We have an established Risk Management Strategy.
The Audit Committee approve the Risk Management Strategy on an annual basis, receive quarterly update reports on the corporate risk register and provide independent assurance of the Council's Risk Management arrangements. Quarterly performance and key business risk reports are presented to the Cabinet, Audit Committee, Scrutiny Committee and our three Policy Development Groups.