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City of Glasgow College Annual Report & Accounts 2019-20
Compliance with Best Practice
The Board of Management has formally endorsed and
adopted, in its entirety, the Code of Good Governance for
Scotland's Colleges 2014, and subsequently the revised
Code of 2016, which, along with the Code of Conduct,
forms a key instrument of guidance and probity for Board
members. I can confirm, therefore, that the Board seeks
to comply fully with the Code of Good Governance 2016,
and associated guidance, without exception, as well as the
Corporate Governance Code so far as its provisions apply
to the college sector.
Corporate Strategy
The matters reserved to the Scottish Funding Council for
decision are set out in the Financial Memoranda issued
by the Council. The Board is responsible for the strategic
direction of the College, approval of major developments
and policy changes, and for the review and commissioning
of regular reports from the Senior Management Team (SMT)
on the day-to-day operations of its business.
The College Strategic Plan 2017-25, has provided
the planning and review framework for the Board of
Management, which held two all-day Planning Seminars
in 2019-20. These seminars included a review of progress
against measures and targets relating to the Strategic Plan
via the five College Supporting Strategies, and a review of
the College's strategic context and direction.
Risk Management
The College Risk Management strategy is outlined under
Audit and Assurance above.
The Audit Committee received regular reports from the
senior management via Risk Management reviews in
2019-20. All significant changes to risk assessment and
management were highlighted and discussed by the
Committee, via the individual Risk Management Action
Plans (Risk MAPs) and the College Risk Register. The Board
Committees (above) regularly reviewed the strategic risks
associated with their areas of responsibility throughout the
session. The Risk Register sets out the College's strategic
risks under the Strategic Themes underpinning the College
Strategic Plan and associated planning documents,
ensuring alignment of risk management with strategic
planning.
The College recognises that its appetite and tolerance for
risk vary according to the activity undertaken, and that the
College's acceptance of risk is always subject to ensuring
that potential benefits and risks are fully understood
before developments are authorised, and that appropriate
measures to mitigate risk are established.