Committees
The Board has established Audit and Remuneration Committees, each with defined terms of reference.Audit Committee
This comprises the Non-Executive Directors with Martin Robinson as Chairman. The Committee meets at least twice each year and the meetings are arranged to tie in with the Company’s financial calendar. The external auditors attend the meetings at which half year or full year results are reviewed and reported on as appropriate, both in the presence and absence of management.
The Committee’s terms of reference include reviewing the Group’s accounting policies, financial reporting, internal control and risk management processes. It also reviews the need to appoint an internal audit function, and considers the appointment and fees of the external auditors together with their independence and objectivity. The outcomes of the meetings are reported to the Board.
Remuneration Committee
This comprises the Non-Executive Directors with Martin Robinson as Chairman. It meets at least twice each year and makes recommendations to the Board on the policy, structure and amount of the remuneration of all Executive Committee members. The Committee also reviews and approves share-based compensation schemes and awards for all levels of the employees in the Company.
