The Board of Directors has established an Audit and Risk Committee.
Terms of Reference
The role and responsibilities of the Audit and Risk Committee include:
- monitoring the integrity of the company’s financial statements and other financial information, and reviewing significant financial reporting judgements contained in them.
- appraising the integrity of the company’s internal financial controls and their operation and ensuring appropriate risk management systems are in place.
- making recommendations to the Board on the appointment, re-appointment and removal of the auditors.
- approving the remuneration and terms of engagement of the auditors.
- monitoring and reviewing the auditors’ independence and objectivity and the effectiveness of the audit process, taking into consideration relevant UK professional and regulatory requirements.
- advising the Board on the engagement of the auditors to supply non-audit services, taking into account relevant ethical guidance.
- reviewing and agreeing the annual budget and cash flow projections before they are submitted to the Board for approval.
- assessing the adequacy and security for employees to act as ‘whistle-blowers’ in reporting financial improprieties and whether arrangements are in place for the investigation and follow–up of complaints.
- considering other financial and allied matters referred to it by the Board.
For full terms of reference for the Board Committees, Working Groups and Panels click here.
The Members of the Committee:
- Ann Tod (Chair)
- Marva Bernard
- Lindsay Sartori (Independent)