To ensure proper continuity and sound development of our business and corporate governance strategy, our policies and management systems continue to be developed to meet client expectations and an ever changing industry and regulatory framework. They are regularly reviewed and signed-off by the Managing Director, Simon King.
The Management System delivers consistency across our business, promoting regulatory compliance and good practice. Quality procedures under ISO 9001, Environmental procedures under ISO 14001 and Health & Safety procedures under OHSAS 45001 are fully integrated into our Management System; accredited by UKAS.
Audits are a regular part of our operations and consistently demonstrate continual improvement, management commitment, innovation, good practice and favourable performance in comparison to our competitors. External health & safety, quality and environmental audits are conducted by ISO Comply (a UKAS accredited certification body). Summaries and actions in response to these audits are reported to the Directors at the management review meetings. Internal audits are managed by the Company’s Health, Safety. Environmental and Quality Manager, David Stevens and we are also subject to an increasing number of client audits.
Business Continuity – we have a proactive approach in responding to potential business interruptions through our ‘Business Continuity Plan’ (sometimes also referred to as Disaster Recovery). This plan ensures that any disruptions to our business are either negated or effectively managed.
Risk Management
Effective risk management underpins the delivery of our business objectives and is essential to protecting our reputation and generating sustainable value. We aim to identify at an early stage and develop actions to eliminate them or mitigate their impact likelihood to an acceptable level.
We have embedded continuous risk management processes throughout the business at all levels which forms an integral part of day to day business activity. They are designed to help management identify and understand the risks they face in delivering business objectives and the status of the key controls in place for managing those risks.
The Company Board is responsible for its system of risk management and internal control where by policies and delegated authority levels are set and risks are reviewed and escalated to the appropriate level within the business for consideration and approval.
Our risk management policy requires that all department functions assess the risks to which they are exposed and which could impact the ability to deliver both their own, and the wider Company’s objectives.
Identified risk events, their causes and possible consequences are recorded in risk registers, along with details of probability and the potential related business impact. Control systems to manage them are analysed and additional actions developed and put in place as required to mitigate or eliminate unwanted exposures. Team members are allocated responsibility for evaluating and managing these risks to an agreed timescale.
A range of procedures are used to monitor the effectiveness of internal controls, including management assurance, risk management processes and independent assurance provided by internal audits and other specialist third parties.
Internal control
The Company Board has ultimate responsibility for the Company’s risk management systems and internal control, and regularly reviews their effectiveness.
Our systems and controls are designed to ensure that our exposure to significant risk is managed properly; our Company Board recognises that any system of internal control is designed to manage rather than eliminate the risk of failure to achieve business objectives and can only provide reasonable and not absolute assurance against material misstatement or loss.
Central to our systems of internal control are its processes and framework for risk management. Our systems of internal control operate through a number of different processes, some of which are interlinked. These include:
a clear system of delegated authorities from the Company Board to management
regular reporting, monitoring and review of the effectiveness of health, safety and environmental processes. These processes are subject to independent audit and certification to internationally recognised standards
legal compliance risks which are addressed through specific policies and training on such matters as ethics, competition and data protection laws
Compliance to both LOLER (Lifting Operations & Lifting Equipment Regulations 1998) and PUWER (Provision & Use of Work Equipment Regulations 1998) is paramount. To achieve the highest possible standards the company utilises the resources of our qualified insurance company ‘Allianz’ to carry out independent plant inspections. Certification and defect feedback is given to enable our team of fitters to carry out work, safeguarding the workforce and the environment by eradicating potential hazards.
Through our accreditation to RISQS (Rail Industry Supplier Qualification Scheme), the company has access to safety bulletins, alerts and training requirements to support our substantial safety risk assessed systems. These systems come under scrutiny through audit at least once a year. Though our membership to this supplier group, we are also able to enhance our Occupational Health initiatives through medical assessments and drug & alcohol testing.
The collaboration with other members of this group also leads to the sharing of knowledge that can help maintain an accident free environment.