Audit committee

The Audit committee's principal function is to enable the board to monitor the integrity of the group's financial reports and to manage the board's relationship with the group's external auditors. Its other functions include: reviewing and monitoring  the financial reporting process; the annual audit; the effectiveness of the group's internal controls; the group's internal audit and risk management systems; and  the independence of the external auditor and its provision of non-audit services.

 

Nomination committee

The Nomination committee is responsible for board succession planning and makes recommendations to the board on the appointment and reappointment of all directors. It also keeps under review the succession planning for senior executives. The terms of reference of the Nomination committee were updated and approved by the board on 28th April 2011 and are available on the company's website or upon request from the Company Secretary.

 

Remuneration committee

The role of the Remuneration committee includes: determining the company's policy on senior executive remuneration; considering and approving individual salaries and other components of the remuneration packages for the executive directors and the Chairman; monitoring remuneration of other senior executives; and setting an overall framework for share schemes throughout the company.

 

Terms of reference of each committee

 

Audit committee (pdf 66kb)

Nomination committee (pdf 53kb)

Remuneration committee (pdf 57kb)

 

Committee membership

 

Director	Audit committee	Nomination  committee	Remuneration  committee
Peter J Ventress		x
Iain Ferguson		x	x
David S Lowden	x	x	x
Per H Utnegaard	x	x	x
Andrew R Wood	x	x	x