Audit Committee
The role of the Audit Committee is to monitor the integrity of the Company's financial reporting, to review the Company's internal control and risk management systems, to monitor the effectiveness of the Group's internal audit function and to oversee the relationship with the Group's external auditors. The Audit Committee focuses particularly on compliance with legal requirements, accounting standards and the rules of the Financial Services Authority. The Audit Committee will meet at least twice a year. The Combined Code recommends that all members of the Audit Committee should be non-executive directors who are all independent in character and judgement and free from relationships or circumstances which are likely to affect, or could appear to affect, their judgement and that at least one member should have recent and relevant financial experience.
The Audit Committee is chaired by Mr. Ammann and the other members are Sir Paul Judge, Mr. Roderick Thomson, Mr. Michael Eggleton and Mr. Kenneth Olisa. The Company complies with the Combined Code recommendations regarding membership of the Audit Committee.