The Committee’s remit covers accounting and financial reporting, internal controls and the external audit. The Committee is composed entirely of independent non-executive directors.
The Committee has overall responsibility for leading the process for new appointments to the Board and ensuring that these appointments bring the required skills and experience to the Board. As part of this, the Committee reviews the structure, size and composition of the Board to ensure the Board is made up of the right people with the necessary skills and experience to direct the company in the successful execution of its strategy.
The role of the Committee is to assist the Board in the oversight of the risks to which the group may be exposed and to provide the Board with strategic advice in relation to current and potential future risk exposures. This includes reviewing the group’s risk profile and appetite for risk, and assessing the effectiveness of the group’s risk management framework.
The Committee has responsibility for approving the group remuneration policy having regard to the risk appetite of the company. The Committee determines the principles, parameters and framework of the group’s remuneration policy and manages the remuneration of executive directors and other designated senior managers.
The Committee’s primary role is to provide oversight of and guidance to the Board with regards to all aspects of Information Technology and Cyber Security (including IT and Information Security) across the Group.