Internal Audit provides Executive management and the Audit Committee with independent, objective controls assurance and consulting advice - designed to add value to, and improve, Unum UK’s operations.
Key to this, the Audit Committee independently and robustly reviews and challenges the decisions of the company’s executive. This ensures our shareholders’ interests regarding financial reporting and internal controls are properly protected. The UK Head of Audit reports directly to the Chair of the Audit Committee to reinforce this independence.
Internal Audit helps the company accomplish its objectives through a systematic, disciplined approach to the evaluation of key controls, risk management procedures and governance processes. To achieve this, we need to understand the key risks of the company, and both examine and evaluate the design and effectiveness of our risk management systems and internal controls.
Our schedule of work is set out in an Audit Plan approved by the Audit Committee annually. We communicate the results of our reviews through discussions with management and by delivering audit reports setting out our control findings, recommendations and agreed management action plans.