Board Committees

The Company’s Audit & Risk Committee is chaired by Clive Watson with Carol Hui, Pauline Lafferty and Helen Miles being members of the committee. The Audit & Risk Committee undertakes all functions that would normally be delegated to an Audit & Risk Committee including:

• Review the annual financial statements and interim reports prior to approval, focusing on changes in accounting policies and practices, major judgemental areas, significant audit adjustments, going concern and compliance with accounting standards, Stock Exchange and legal requirements;
• Receive and consider reports on internal financial controls, including reports from the auditors and report their findings to the Group Board;
• Consider the appointment of the auditors and their remuneration including reviewing and monitoring of independence and objectivity;
• Meet with the auditors to discuss the scope of the audit, issues arising from their work and any matters the auditors wish to raise;
• Develop and implement policy on the engagement of the external auditor to supply non-audit services;
• Review the Group’s corporate governance procedures and any statement on internal control prior to endorsement by the Group Board; and
• Consider the need for and scope of any internal audit work and approve and monitor any internal audit programme.

The full terms of reference of the Audit & Risk Committee can be accessed here and the Committee’s report for 2021 can be found on pages 82 – 86 of the Company’s latest Annual Report.