24
WWT Report and Financial Statements 2012/13
Remuneration Committee
A subcommittee of the Council, the Remuneration
Committee monitors the salary market and determines
the salaries of WWT’s CEO and top managers.
Management Board
Day–to-day running of WWT is carried out by the
Management Board, consisting of paid members of staff.
The Management Board is chaired by the Chief Executive,
who reports directly to the Chair of the Council.
Management of subsidiary companies
Each subsidiary company has its own Board of Directors
responsible for running each company. The Chief
Executive and at least one other member of WWT’s
Management Board sit on each company’s board. WWT
Trading and WWT Consulting also benefit from non-
executive board members who contribute specialist skills
and expertise on a voluntary basis.
Members of the Council, Finance & General Purposes
Committee, Remuneration Committee and Management
Board are listed on page 56.
Risk management
The charity’s systems of internal control are designed to
provide reasonable, but not absolute, assurance against
material mis-statement or loss. They include:
•
a strategic plan and an annual budget approved by
the Council
•
regular consideration by the Finance & General
Purposes Committee and Council of financial
results, variance from budgets, and non-financial
performance indicators
•
delegation of authority and segregation of duties
•
identification and management of risks.
The Council oversees a formal risk management
process to assess business risks and implement risk
management strategies. This involves identifying the
types of risks the charity faces, prioritising them in
terms of potential impact and likelihood of occurrence,
identifying means of mitigating the risks and monitoring
the success of mitigation.
Auditors
An independent audit is conducted annually to fulfil
WWT’s legal obligations and for the Council to ensure
financial statements have been properly prepared and
give a true and fair view. The auditors’ report to WWT’s
members is given on page 27.
Mazars LLP have expressed their willingness to continue
in office as the group’s auditors and a resolution to
reappoint them will be proposed at the next Annual
General Meeting.
Council of
Trustees
Management
Board
Board of WWT
(Trading) Ltd
Board of WWT
(Consulting) Ltd
Board of Wetlands
Advisory Service Ltd
Board of Wildfowl Trust
(Holdings) Ltd
Finance & General Purposes
Committee, Remuneration
Committee
