Control environment
TSN aims to operate an internal risk‑management and control system designed to safeguard its licence to operate, support effective decision‑making and realise responsible execution of its strategy. This system comprises both the controls and governance structures already in place, as well as the strengthening measures introduced through the multi‑year In Control Programme. Together, these elements form the foundation for an effective control environment.
Governance Model Supporting TSN’s System of Control
TSN’s governance model is designed to provide accountability, oversight and challenge, supporting the company to operate with integrity in a complex regulatory and social environment.
The Board of Management is responsible for directing the business, setting priorities and realising sustainable value creation. The Supervisory Board oversees these activities and monitors the internal‑control environment, with specific attention delegated to the Audit Committee, which reviews financial reporting, risk‑management processes, compliance and the effectiveness of internal and external assurance.
R&C Framework Enhancements Through the In Control Programme
While TSN has strengthened foundational controls and improved transparency in recent years, full maturity of the R&C environment will only be achieved progressively. The In Control Programme is therefore a key driver of TSN’s transformation toward a more structured, predictable and sustainable internal‑control system.
The programme has introduced the essential building blocks of TSN’s future R&C operating model, including:
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a unified R&C framework covering all risk domains;
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clearer governance and role segregation across the Three Lines of Defence;
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standardised methodologies for risk appetite, risk assessment and internal‑control design;
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a strengthened regulatory‑change process;
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consistent and cyclical reporting supported by defined KPIs;
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enhanced capabilities across environmental compliance, ethics & compliance, information security and enterprise risk management;
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culture, leadership and behavioural elements embedded through dedicated training and awareness workstreams; and
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preparation for GRC tooling to support workflow‑based control execution, monitoring and reporting.
Taken together, these developments significantly strengthen TSN’s control environment, reinforce compliance disciplines, and lay the foundations for an effective system of risk management and compliance culture that underpins TSN’s strategy and its transition to Green Steel.
Three Lines Model
TSN applies a layered governance model:
