The Audit and Risk Committee comprises the following independent
non-executive directors:
The Board believes that together the members of the Committee
have the required financial knowledge, experience and independence
to fulfil this role. Evelyn Bourke in particular, being a qualified
Actuary and working as Managing Director, UK Financial
Services for Standard Life Assurance, is considered to have
recent and relevant experience as required by corporate governance
best practice.
| The Committee's responsibilities include: |
| ensuring an effective system of financial
reporting, internal control and risk management is in place, |
| providing a direct channel of communication
between the Board and internal and external auditors, |
| ensuring the external audit is conducted in a
thorough, objective and cost-effective manner, |
| reviewing the internal audit annual work plan, and
ensuring that this is adequately resourced, and |
| conducting an annual review of the external
auditors, and setting policy on the extent of non-audit
services work and maximum fees payable for non audit work. |
Audit and Risk Committee Terms
of Reference
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Finance Committee
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