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Our 17 sites are at differing stages of decommissioning and each have their own unique challenges. Our goal is to continuously seek ways to optimise the way we work and share best practice across our entire estate, so we can deliver more for less and drive real value for the taxpayer. A change in the basis for calculating discount rates by HM Treasury has driven a £104 billion decrease in the discounted nuclear provision. The underlying undiscounted provision has increased https://www.thenina.com/retail-accounting-as-a-way-to-enhance-inventory-management/ in the year by £3 billion principally due to inflation. On the understanding that future BEIS sponsorship and parliamentary approval will continue, we will consider it appropriate to adopt a going concern basis for the preparation of the financial statements. We’re approaching a new era at Sellafield, transitioning from operations to environmental restoration, with reprocessing at the Thermal Oxide Reprocessing Plant at an end and Magnox reprocessing following in 2020.
Our overarching risk management framework provides for the recognition and escalation of emerging risks. Our collaborative work across the NDA group businesses, with the Heads of Risk, has developed significantly this year as well as Corporate Centre focus with Risk Champions. This has included collective identification of joint risks and sharing on emerging / evolving risks. The identification and management of strategic and delivery risks, demonstrates that the NDA has robust planning, forecasting and control of risks. He joined the NDA in June 2016 from Rolls-Royce, where he held a number of senior positions.
Account Executive
Internal audit reviews also highlighted the need for further improvement in our risk management and sanctioning processes. As Accounting Officer, I have responsibility for ensuring the system of internal control and its effectiveness are both sound. I am also personally accountable for safeguarding the public funds allocated to the NDA, as well as departmental assets, in line with the HM Treasury publication ‘Managing Public Money’.
Non-Executive Board Member Safety and Security Committee (S&SC) To support the Board on discharging responsibility across the NDA estate relating to Health, Safety, Environment, Nuclear Safeguards and Security matters. Non-Executive Board Member Programmes and Projects Committee (P&PC) To advise the Board on sanction, performance and assurance of programmes and projects. Non-Executive Board Member As at 31 March 2020, the NDA Board comprised of seven Non-Executive Members, including the Non-Executive Chair and two executive members, including the Group Chief Executive Officer & Accounting Officer and Chief Financial Officer. The table below set out the names of the Board members during the period 1 April 2019 to 31 March 2020, their respective terms of office and membership of Board committees. Group Chief Executive Officer & Accounting Officer Executive Committees Purpose Meeting Chair Executive Committee Accountable for implementing strategy and plans approved by Board. Group Chief Executive Officer Executive Audit, Risk and Assurance Committee To oversee the effectiveness and quality of the group risk management framework, processes and practices and monitor risk exposure against group risk appetite.
Grants & Contracts Manager
September 2019 saw the publication of that document, a first for the nuclear industry. In 2013 the strategic decision was taken to consolidate Dounreay’s plutonium inventory at Sellafield. Due to the radioactive and fissile nature of the material, plutonium handling retail accounting and storage requires specialised facilities and stringent management arrangements. Shipping direct to the Sellafield site offered us the best balance of safety and delivery, allowing the packages to be treated at the UK’s centre of excellence for managing plutonium.