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Written question asked by Lord Myners (Crossbench) on Monday, 19 April 2021, in the House of Lords. It was due for an answer on Tuesday, 4 May 2021. It was answered by Lord Callanan (Conservative) on Thursday, 29 April 2021 on behalf of the Department for Business, Energy and Industrial Strategy.

Nigel Boardman

Question

To ask Her Majesty's Government whether Nigel Boardman is the chair of the Audit, Risk and Assurance Committee at the Department for Business, Energy and Industrial Strategy; and whether that Committee is responsible for overseeing the risk audit and credit functionality at the British Business Bank.

Answer

Nigel Boardman is a non-executive board member of the Department for Business, Energy and Industrial Strategy (BEIS) and the Chair of the Audit and Risk Assurance Committee (ARAC).

The British Business Bank (BBB) is an operationally independent arm’s length body of Government. As such, and in accordance with the UK Corporate Governance Code, BBB has separate independent Audit and Risk Committees comprising of independent non-executive directors. BBB’s Board is responsible for internal controls and risk management systems in BBB. Through the governance statement in BBB’s Annual Report and Accounts there is a requirement for BBB to provide assurances to the Government and other stakeholders on performance and insight on BBB’s risk profile, the responses to the identified and emerging risks and how risks have been successfully tackled.

Secondary information

Type
Written question
Reference
HL15064
Session
2019-21
Subjects
British Business Bank Department for Business, Energy and Industrial Strategy Boardman, Nigel
Link
View this Written question on www.parliament.uk