Role of the committee
The role of the committee is to:
- Keep under review key compliance and ethical risks and monitor the adequacy and effectiveness of respective mitigation activities and controls;
- Oversee the development and monitor the implementation and effectiveness of the Group Compliance Charter, the Company’s Code of Conduct and other policies, procedures and standards in relation to compliance and ethics, including the Standard for the Prevention of Bribery and Corruption and the Ethical, Social and Regulatory Risk Policy;
- Advise the Board and make recommendations on the development and implementation of strategy, policy, procedures and processes in respect of compliance and ethical matters;
- Evaluate the compliance and ethical aspects of Company culture and make recommendations to the Board on steps to be taken to ensure a culture of integrity and honesty in the Company’s business dealings;
- Receive reports and review findings of significant internal and external investigations, audits and reviews regarding significant fraud or error, or possible breaches of compliance and ethics policies and procedures; and exercise oversight, where possible, over any such investigation impacting the Group;
- Oversee, in liaison as necessary with the Audit Committee, the adequacy and security of the Company’s arrangements for its employees and contractors to raise concerns, in confidence, about possible wrongdoing and impropriety in financial reporting or other matters and ensure such systems (and any other systems it considers necessary) adequately and securely allow ethical concerns to be raised in confidence;
- As necessary and where permitted by law, support the Company in engaging with regulatory bodies, industry groups, advisers and other stakeholders regarding ethical issues and compliance matters.
The full Compliance and Ethics Committee Terms of Reference are available for download here.