Our governance and finances

Our governance and finances

As the Local Enterprise Partnership for Oxfordshire, we make every effort to ensure our decision-making is transparent, accountable and delivers the value for money that is expected of such an organisation.

We have a Risk Management Policy which is approved by our Board and aims to ensure that our strategic, programme, financial and operational risks are adequately and regularly assessed and reviewed.

The policy captures risks at a strategic, operational and programme level in a risk register. Mitigation strategies are identified and built into the operational conduct of the company to significantly reduce the likelihood and/or impact of specific risks.

To underpin this, the Government ensures we – along with all other Local Enterprise Partnerships – adhere to a National Assurance Framework, ensuring robust systems, protocols and processes are in place, right across our work. This National Assurance Framework ensures that we are also equipped to develop our own Local Assurance Framework to meet our own local growth priorities.

Our Local Assurance Framework clearly outlines our commitment to:

  • Governance and decision-making
  • Clear transparency around any potential conflicts
  • Accountability
  • Ensuring value for money and effective delivery
  • Oversight and scrutiny of our adherence to this assurance framework is undertaken by our Accountable Body's Section 151 Officer , whose role it is to sign-off and certify our own Local Assurance Framework each year.

This is also assessed during our annual performance review meeting with the Department for Business, Energy and Industrial Strategy and the Department for Levelling Up, Housing and Communities.