• The capitals
• Connectivity of information
• Materiality

Key observations:

The Duchy of Cornwall’s 2017 Integrated Annual Report contains a discussion on The Duchy estate’s most material risks, integrating information on strategy and the resources and relationships (capitals) that are affected, as called for in 4.24 of the <IR> Framework. Five risks are highlighted, each with a description and a summary of how The Duchy estate is mitigating against it. The tables then outline which specific strategic objectives and resources and relationships (e.g. financial, manufactured) can be affected by the risks, thereby demonstrating alignment with 3.6 of the <IR> Framework which calls for information on the interrelatedness and dependencies between the factors that affect an organisation’s ability to create value over time. A matrix is also included which plots each risks’ position against ‘impact’ and ‘likelihood’. Both the ‘actual movement’ over the past year and the ‘anticipated movement’ for the future are shown.