8a421b78_port___Business_review___Risks__Description
[Risk] The risk of penalties or punitive damages arising from failure to comply with new legislative or regulatory requirements [Action] Individual operating companies, supported where necessary by the corporate affairs department, are responsible for ensuring that they have access to sufficient legal and governance resource. Operational management is also responsible for liaising with either local legal resources or the corporate affairs department to resolve any potential issues arising from new legislation or any suspected breaches of existing legislation or Group policies. Where new operating companies are either acquired or created, formal Group defined governance structures are established from the outset. At a minimum, these provide guidance regarding Board, and Audit Committee processes and procedures, the implementation of which are subject to a review by the Director of Corporate Affairs and the internal audit department. [Description] 
The geographic, political and cultural diversity of the markets in which we operate exposes us to wide ranging and complex legal and regulatory frameworks. There is a danger that we do not understand the risks associated with either existing or proposed changes to legislative requirements across the jurisdictions in which we operate.
Kingfisher Annual Report 2008/09 - Report - Business review - Risks
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