The Board is assisted in its duties by four committees - Audit, Compliance and Ethics, Nominations and Remuneration. Each committee is responsible for reviewing and overseeing activities within its particular terms of reference.
- Audit: reviews and monitors the integrity of the Company’s financial statements, reporting processes, financial and regulatory compliance; the systems of internal control and risk management, including viability assessment; and the external and internal audit processes
- Compliance and Ethics: reviews and has direct oversight over compliance and ethical risks; monitors the adequacy and effectiveness of controls; oversees the implementation of compliance and ethics principles across the Group and assists the Board in fulfilling its responsibilities in relation to the Company’s compliance and ethics programme
- Nominations: reviews the structure, size and composition of the Board and its committees. Takes primary responsibility for Group level succession planning and Director succession
- Remuneration: reviews and agrees remuneration policy; designs all share incentive plans and determines individual compensation levels for Executive Directors and members of senior management
At each scheduled Board meeting, the chairman of each committee provides a summary of any committee meeting held since the previous Board meeting. The minutes of all committee meetings are circulated to the Board, when appropriate.
Learn more about our Governance Framework and the role of all our committees on our Board roles and activities page.