Audit committee

The Board considers that the accuracy and integrity of the Group’s financial reporting systems and statements, and the effectiveness of its risk management and internal control systems, are crucial to the business and to its ability to measure and sustain or improve our performance in line with the company’s strategic objectives.

The Audit Committee supports the Board in its oversight and monitoring of financial reporting, risk management and internal controls and corporate governance arrangements, testing and challenging these areas both with management and internal and external auditors as appropriate.

Safeguarding the independence of the external auditor is paramount and the Audit Committee ensures controls are in place to maintain their continued independence.  The Committee advises the Board on the appointment, re-appointment and removal of the external auditor as well as the effectiveness of the audit process. As part of this work, a policy on the non-audit services of the external auditor has been established and is managed by the Committee.

The Committee also reviews the Group’s whistleblowing arrangements.

The Committee Chairman reports formally to the Board on its proceedings after each meeting and makes recommendations as appropriate.

Membership

• Robert Holden (Chair)
• Susan Cooklin
• Anne Baldock

Meeting are frequently attended by:

• Jen Carter (Head of Risk, Control and Assurance)
• Chris Johns (Chief Finance Officer)
• Ian Smyth (Chief Executive Officer)

The Committee regularly meets with the external auditor and without management present.

The Company Secretary, Jen Carter, is secretary to the Committee.