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Audit and Risk Committee

Roles and Responsibilities

The Audit Committee is responsible for:

  1. Reviewing and challenging, where necessary, the actions of management in relation to the financial statements, interim reports, preliminary announcements and related formal statements before submission to and approval by the Board, and before clearance by the auditors;

  2. Monitoring matters that influence or could distort the presentation of accounts and key figures;

  3. Overseeing the Group’s procedures for ensuring that the annual report and interim results, taken as a whole, are fair, balanced and understandable;

  4. Considering the scope of the annual external audit and the work undertaken by external auditors;

  5. Considering the scope of work and remuneration of internal auditors;

  6. Considering the reappointment of the internal and external auditors;

  7. Making recommendations to the Board for a resolution to be put to the shareholders for their approval on the appointment of the external auditors and to authorise the Board to propose the remuneration and terms of engagement of the external auditors;

  8. Reviewing and monitoring the independence of the external and internal auditors and the provision of additional services;

  9. Reviewing internal financial, operational and compliance controls, and internal controls and risk management systems;

  10. Overseeing the Group’s procedures for detecting fraud and handling allegations; and

  11. Evaluating the expertise and experience of the FD and finance function.