Annual Report and Accounts 2024-25

Directors Report

Introduction

This report is prepared in accordance with Chapter 5 of Part 15 of the Companies Act 2006 and Schedule 7 of SI 2008 No 410, as interpreted by the Government Financial Reporting Manual 2024-25 for the public sector context.

Performance Report

The Performance Report is prepared in accordance with Chapter 4A of Part 15 of the Companies Act 2006, as interpreted by the Government Financial Reporting Manual 2024-25 for the public sector context and precedes this Director’s Report.

Personal data related incidents

As reported in the Governance Statement, there were no personal data related incidents identified through 2024-25 which required to be reported to the Information Commissioner (2023-24 – no incidents).

Chair, Chief Executive, composition of the Advisory Board and Advisory Board Interests

Management structure

AiB’s strategy and decisions are the responsibilities of the Chief Executive. The Chief Executive is also both The Accountant and the Accountable Officer and receives strategic support from the AiB Advisory Board, Senior Management team and sub committees. AiB is an Executive Agency of the Scottish Government, and the Chief Executive also acts as chair of the Advisory Board.

The Advisory Board

During 2024-25, the AiB Advisory Board comprised two executive and five non-executive directors. Membership did not change during the year. Three non-executives (Ian Waugh, Richard Maconachie and Almira Delibegovic-Broome) served out their final year. Three new non-executives were appointed in May 2025 and one new non-executive in July 2025. 

Non-Executive Board members are appointed in an advisory capacity to bring an independent perspective on issues of strategy, performance, resources and standards of conduct within AiB.
Non-executives are expected to act as a counterbalance to the Executive Board members and provide challenge where necessary.

The Advisory Board, chaired by the Chief Executive, met four times in 2024-25 and was supported through attendance by Senior Management team members.

The Senior Management team meets monthly and features both Executive Directors along with heads of department from AiB’s main business areas.

Audit Committee

The Audit Committee met four times in 2024-25, was chaired by one of AiB’s Non-Executive Board Members and gave the Chief Executive assurances over the functioning of AiB’s internal governance and finance systems. The committee is responsible for overseeing and reviewing the established risk and associated assurance processes through constructive challenge. In 2024-25, the Audit Committee members were Simon Gill (chair), Christine Sinclair, Ian Waugh and Richard Maconachie.

Register of Interest

Members of AiB’s Advisory Board and committees each complete an annual declaration of interests as well as declaring any relevant interests at the start of every meeting. A Register of Interests of executive and Non-Executive Board Members and attendees to AiB’s committees and groups can be viewed on our website.