Corporate Governance Framework
Review of effectiveness
1.21. The Commission operates management information and accounting systems to enable it to review its financial and non-financial performance against budgets and its Business Plan in line with its planning documents.
1.22. The Commission must keep proper accounts and records in relation to them and retain financial records as appropriate. After the end of each financial year, the Commission will publish an annual report of its activities, together with its audited annual accounts.
1.23. The report and accounts will be in a form specified by the Secretary of State and will outline the Commission’s main activities and performance during the previous financial year. It will also set out in summary form the Commission’s objectives as stated in the Business Plan. The report and accounts are subject to audit by the Comptroller and Auditor General. A copy of the report and accounts will be sent to the Secretary of State.
1.24. The annual report is laid before Parliament by the Comptroller and Auditor General and made available to the public on request and published on the Commission’s website.
1.25. The Commission, at least annually, assesses its performance against the terms of this Corporate Governance Framework, its financial and non-financial performance and delivery of its Business Plan.
1.26. The Commission’s performance against targets will be reported and reviewed by DCMS (opens in new tab) at quarterly liaison meetings. The Secretary of State or Minister will meet with the Chair and Chief Executive formally each year to discuss the Commission’s performance, its current and future activities and any policy developments relevant to those activities.
1.27. The Commission’s effectiveness will be reviewed periodically, in accordance with the business needs of DCMS and the Commission, and in accordance with Cabinet Office guidance. The terms of this Corporate Governance Framework and the Commission’s compliance with it will be reviewed as part of any such review.
Last updated: 27 February 2023
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