The Audit Committee helps the board to monitor decisions and processes designed to ensure the integrity of financial reporting, sound systems of internal control and risk management.
The committee is responsible for financial reporting; internal controls, including internal controls over financial reporting; internal audit and assurance; external auditors (appointment and relationship); the effectiveness of the risk management framework; and the integrity and compliance programme.
In carrying out its responsibilities the Committee has full authority to investigate all matters that fall within its terms of reference. Accordingly, the Committee may:
- obtain independent professional advice in satisfying its duties at the Group's expense
- have the direct access to the resources of the Group as it may reasonably require, including the external and internal auditors