Internal Audit assists the Court of Directors and Executive Team in protecting the Bank, and its reputation, by independently and objectively evaluating the effectiveness of internal controls, risk management and governance processes. As part of this assurance Internal Audit recommends cost-effective improvements which are agreed with management and tracked until implementation.
The Public Communications and Information Division manages the Bank’s public and media relations and its work to build public understanding; it includes the press office, the Bank’s website, public enquiries, education and community programmes, and the Bank’s museum. It also manages internal Bank-wide staff communications
The Human Resources function is responsible for recruitment and development of staff, talent management and succession planning, employee relations and administration of the Bank’s payroll and pensions (Bank of England; Structure)
In this case I would like to apply some economic policies. Inflation was more than a percentage point away from the target set for 2%. In fact inflation has risen from 2,1% in December 2007 to 4,7% in August 2008 and more than 5% at the