Our Board has a duty to ensure our financial affairs are conducted in an environment of good governance and financial probity – it does so by maintaining a governance framework to ensure our staff work within the parameters set out by the Board.
That governance framework consists of policies and procedures, control systems and external validation to ensure the organisation is fulfilling its obligations.
All business contains an element of risk and while the framework exists to manage risk to a reasonable level, it cannot eliminate all risk of failure to achieve aims and objectives.
As part of our governance arrangements, we have formal statements by our Chair, Chief Executive and by our Accountable Body’s S151 Officer on the governance framework in place and its effectiveness. These can be found below.
As the Local Enterprise Partnership for Oxfordshire, we are acutely aware of the public responsibilities we hold and we make every effort to ensure our decision-making is transparent, accountable and delivers value for money.
To support this, our work is aligned with Government’s National Assurance Framework for Local Enterprise Partnerships, which sets out our governance arrangements, policies and protocols.
Following the publication of the Review of Local Enterprise Partnership Governance and Transparency (led by Mary Ney, Non-Executive Director, DCLG Board) the Nominations and Personnel Committee agreed on 15 February 2018 that the recommended Code of Conduct should be adopted. This had previously been discussed at the Board Away Day in December 2017. At the Board Meeting on 6 March 2018, all Board Directors and the Corporate Management Team were appraised on the requirements of the Code of Conduct and approved its adoption.