The Crown Company Monitoring Advisory Unit
Executive Summary
CCMAU is at the forefront of commercial ownership monitoring and governance advice to the Government. It is responsible for a portfolio of companies and commercial entities3, which represent a significant part of the Crown's balance sheet and whose performance, therefore, is critical to the development of the wider economy.
The new Government's expectations of the portfolio include a much sharper focus on financial performance and achieving higher rates of return than have generally been achieved in recent years. They also mean that the companies and entities will be expected to take greater responsibility for managing the issues that impact on their performance.
CCMAU is well placed to assist Ministers achieve the Government's objectives, notwithstanding the change in focus.
CCMAU's measure of success is the level of satisfaction expressed by our two Vote Ministers. We will continue to seek formal feedback on a six-monthly basis, and informally at regular intervals in between. In addition, we will also judge our success by the way all stakeholders react to our change in focus.
CCMAU needs to be able to provide a suite of benefits, consistent with public sector norms, that attracts the very best people. To that end, CCMAU is committed to providing staff with appropriate training and industry knowledge development opportunities.
Notes
- [3] For purposes of readability we have used the abbreviated names or acronyms by which these companies and commercial entities are commonly known. A list of their full names and associated abbreviations is provided on page 37.
