KCHC Annual Review 2023-24 WEB Singles - Flipbook - Page 38
Governance
The Charity also makes pension contributions up to
a defined level into personal pension funds. Reviews
of salary levels are carried out annually, and the
annual inflation award is determined using relevant
benchmarking information. The Chair determines the
remuneration of the Chief Executive in conjunction
with the Vice Chair and the Treasurer. The key
management personnel pay disclosures are included
in Note 4.5 to the financial statements.
Risk management
The Charity’s risk register includes the significant risks
to which the Charity is exposed. The Board is provided
with the Charity’s risk register at every meeting and
updates on risks are supplied through various agenda
items. The FAIRC is responsible for a quarterly detailed
risk register review, including a deep-dive review of a
specific risk at each meeting. It is also responsible for
reviewing the effectiveness of the risk management
process.
The risk register is structured along best practice
lines, identifying the risks, the Board’s risk appetite,
existing mitigating controls and proposed control
improvements. They allocate a calculated current and
residual risk exposure score based on the impact and
likelihood of each risk causing a loss to the Charity. The
details contained in the risk register are then grouped
and summarised into a risk map, identifying whether
each risk is rising, stable or falling, allowing the Board
to focus its attention on the high and rising risks.
The Board and the Committee monitored the top risks
(set out below) during the year. This included how risk
mitigation plans needed to be adapted to address the
changing influences on the risks arising from external
changes.
Risk 1: With the NHS in a state of flux, there is a risk
that grants awarded are not aligned with the Trust’s
shifting strategic priorities or there are delays in
implementing projects. The senior management team
(SMT) is working closely with the Trust’s Executive to
identify the feasibility of projects that need funding
and are aligned with the Charities strategic priorities
to minimise the risk of misalignment and delays.
Risk 2: Although the HR strategy has been drafted
to enable the delivery of the Charity’s strategic
objectives, the implementation plans to support
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it are a work in progress. Therefore, there is a risk
that people will not be able to deliver the strategy
effectively. The Charity has recruited a People Services
Manager, supported by Fitzgerald HR, to increase
the breadth and depth of HR efforts in this area to
minimise the people risks.
The Board is satisfied that systems are in place and
control improvements are underway to mitigate
the Charity’s exposure to risk. Furthermore, it
is committed to keeping the identification and
mitigation of risk under continual review.
Audit
The Trustees are responsible for the appointment
of the independent auditors. Moore Kingston Smith
was appointed during the year for a three-year term,
starting with the 2023/24 audit.
Internal audit
Four internal audits were undertaken during the year,
covering HR processes and payroll, cyber security,
lottery, and a follow-up of the risk management and
grant spending audit. Planning for two reviews in
2024/25 was approved.
Fundraising governance
The Charity benefits from a loyal supporter base,
principally people who have benefitted from the care
delivered by King’s College Hospital NHS Foundation
Trust. Income is received across a broad spectrum,
including one-off donations from individuals, regular
gifts from committed supporters, fundraising events,
lotteries, trusts and foundations, major donors,
corporate supporters and legacies.
We are committed to providing excellent supporter
care to those who are generous enough to support
our work. We aim to comply with the necessary codes
of practice and standards. The Charity is a member of
the Chartered Institute of Fundraising and is registered
with the Fundraising Regulator, adhering to its Code
of Fundraising Practice, Fundraising Promise and
Fundraising Preference Service. The Trustees are not
aware of any failure by the Charity, or by any person
acting on its behalf, to comply with fundraising
standards or requirements for fundraising regulation
that the Charity has voluntarily subscribed to or is
