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The aim of the Finance, Risk and Audit Committee (FRAC) is to monitor the financial solvency of Breast Cancer Trials (BCT), assess the processes BCT uses to properly and efficiently manage its financial responsibilities, review BCT’s risk appetite and risk tolerance and monitor the risks faced and likelihood of occurrence, and assess the internal processes for determining compliance with laws, regulations, standards and best practice guidelines.
Members of FRAC work closely with BCT’s Chief Executive Officer (CEO) and Financial Controller to review the financial structure of the Group, and set the Group’s risk appetite for adoption by the Board, which is reviewed annually.
FRAC’s indicators of performance include, but are not limited to:
- Ensuring BCT’s financial position can support current and future committed BCT activities
- Ensuring BCT’s financial profile is appropriate and able to support the overall Strategic Plan
- Ensuring adherence to BCT’s risk statement
- Ensuring compliance with regulations associated with the business
Members of FRAC are:
- Mr Luke Bugden, Chair of FRAC and Board Director
- Ms Michelle Cairns, BCT Financial Controller and Company Secretary (attendee)
- Professor Andrew Spillane, Board Director
- Ms Judith Smith, Appointed Member
- Adjunct Professor Soozy Smith, Chief Executive Officer