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consider each conflict situation separately on its particular facts;

consider the conflict situation in conjunction with the rest of their duties under Companies Act 2006;

keep records and board minutes as to authorisation granted by Directors and the scope of any approvals given; and regularly review conflict authorisation.

Based on the above, I would conclude that the company is complying in all respects in regards to procedures regarding conflicts of interests.

5.4 INTERNAL CONTROL AND RISK MANAGEMENT

5.4.1 Accountability

The Board has overall responsibility for risk management and internal control within the context of achieving the Group's objectives. Executive management is responsible for implementing and maintaining the necessary control systems. The role of Internal Audit is to monitor the overall internal control systems and report on their effectiveness to Executive management, as well as to the Audit Committee, in order to facilitate its review of the systems.

Tesco has all the procedures in place to pursuing their growth strategy as well as managing their risk properly - a good governance system.

5.4.2 Risk Management

The Group maintains a Key Risk Register. The Register contains the key risks faced by the Group including their impact and likelihood as well as the controls and procedures implemented to mitigate these risks. The content of the Register is determined through regular discussions with senior management and review by the Executive Committee and the full Board. A balanced approach allows the degree of controllability to be taken into account when we consider the effectiveness of mitigation recognising that some necessary activities carry inherent risk which may be outside the Group's control. The risk management process recognises there are opportunities to improve the business to be built into future plans.

The risk management process is cascaded through the Group with every international CEO and local Boards maintaining their own risk registers and assessing their control systems. The same process also applies functionally in those parts of the Group requiring greater overview.

Tesco plc can therefore be said to have an appropriate internal control risk management process.

5.4.3 Internal Control

The Board is responsible for the Company's system of internal control and for reviewing the effectiveness of such a system. We have a Group-wide process for clearly establishing the risks and responsibilities assigned to each level of management and the controls which are required to be operated and monitored. The CEOs of subsidiary businesses are required to certify by way of annual statements of assurance that th本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。