This section has no associated Explanatory Memorandum
7. Whether there are systems and processes—
(a)for identifying, managing and monitoring operational, financial, regulatory and compliance risks;
(b)for recording and documenting risks in an appropriate and durable format;
(c)for ensuring that risks are managed in a timely manner by the appropriate persons;
(d)for informing the trustees about risks that have arisen and the steps being taken to manage them.