A basic tenet of risk management to be remembered, even if a risk committee is created and designated as part of the board, is that the full board should retain the overall responsibility for risk management. Burberry does not seek to manage structural foreign exchange risk relating to its overseas retail operations. As part of this review, the Audit Committee considers the principal risks facing the Group and the nature and extent of these risks. As Burberry's 'critical friends', acting in an independent advisory capacity to the business, we welcome the bold new strategy which represents a step change in ambition and approach, aiming to make a meaningful difference in the areas where the company has the biggest impacts. Burberry’s Chief People, Strategy and Corporate Affairs Officer is responsible for all internal people and health and safety matters, as well as the delivery of our responsibility goals for 2022 (covering community, product and climate change related risks and opportunities), and regularly reports on these topics to the Group Risk Committee and the Burberry plc Board. A year into the new strategy, their comments and reflections are summarised below. Digital luxury positioning and the optimisation across innovative mediums of the trench coat, trademark check and Equestrian Knight Device heritage icons, It regularly meets with representatives from the UK Government, the International Accounting Standards Board, the Institute of Chartered Accountants of England and Wales, the Financial Reporting Council, investor groups and similar bodies across Europe. Committee members represent Elvis & Kresse, Forum for the Future, Oxfam GB and University of Leeds. The Board is collectively responsible for promoting Burberry’s long-term success, for setting its strategic aims and ensuring a framework of prudent and effective controls. To find out more or adjust cookie settings, click here. The committee should review the risk management plan at least once a year. These activities are reviewed by our Internal Audit and other control functions, which provide assurance to our Risk Committee, and ultimately to our Board and Board Committees, as shown in the diagram on page 102. Burberry’s Chief People, Strategy and Corporate Affairs Officer is responsible for all internal people and health and safety matters, as well as the delivery of our responsibility goals for 2022 (covering community, product and climate change related risks and opportunities), and regularly reports on these topics to the Group Risk Committee and the Burberry plc Board. These include the recognition that whilst fashion can play a positive role in consumers' lives the unsustainable nature of how brands deliver fashion to their consumers must be recast. Responsibility Team: The Responsibility Team works with and supports internal teams to ensure implementation of the company’s Responsibility strategy … Burberry's approach is founded on a recognition that the challenges faced by the global apparel sector are too big and too systemic for a company of its size to tackle alone, but that every business has its role to play in creating a sustainable present and future for the industry. Our 2022 goals and commitments were assessed for materiality and signed off by our senior leadership team and company Board. The External Advisory Committee is a group of leading independent stakeholders with expertise in different areas of sustainability. A top Burberry competitor, Armani is a popular Italian fashion house that was formed during the year 1975 and is headquartered in Milan, Italy. Burberry Luxottica Group is a leader in premium, luxury and sports eyewear with over 7,400 optical and sun retail stores in North America, Asia-Pacific, China, South Africa, Latin America and Europe, and a Registered  Number: 03458224. Prior 2.2 The members of the Audit and Risk Committee shall be appointed by the Board. The role of the Remuneration Committee is to ensure that remuneration for the executive directors and other senior executives enables them to be completely focused on driving the Company’s performance and delivering the key strategies in a responsible way. Matthew Key. Burberry is one of the 100 most trusted brands of the world. Burberry Group Plc, Learn about each of Burberry’s Board Committees below. 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