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REG - Indivior PLC - Annual Financial Report <Origin Href="QuoteRef">INDV.L</Origin> - Part 2

- Part 2: For the preceding part double click  ID:nRSW3055Aa 

and accountable. 
 
The Executive Committee helps to establish the risk agenda, for the reporting
and ongoing management of risks and for the stewardship of the risk management
approach. The Executive Committee reviews the risk register on a quarterly
basis and identifies and assesses Indivior's principal risks on an ongoing
basis. 
 
Risk control assurance 
 
The Board has overall responsibility for the Group's risk management
framework. The Board reviews the Group's principal risks with focus on the key
risk areas framework. The Board's Committees regularly review risks relevant
to their area of focus; this includes, but is not limited to, risks relating
to legal, financial and compliance matters. Assurance on risk controls is
provided by internal management information, internal audits, external audits
and Board oversight. There is also an externally supported whistleblowing
reporting system in place. 
 
iii. Related party transactions 
 
Subsequent to the demerger from former parent, RB, on December 23, 2014,
Indivior continues to receive certain services like office space rental and
other operational services on commercial terms and on an arm's length basis.
Adrian Hennah, the RB CFO, served on the Indivior PLC Board of Directors until
the AGM on May 11, 2016. The amount included within SD&A in respect of these
services is $4m (2015: $9m). 
 
Key management compensation is disclosed in Note 6a. 
 
The subsidiary undertakings included in the consolidated Financial Statements
at December 31, 2016 are disclosed in Note 2 to the Parent Company Financial
Statements. 
 
This information is provided by RNS
The company news service from the London Stock Exchange

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