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Audit and Risk Committee

The members of the Audit and Risk Committee (the "Committee") are:

Richard Jones (Chair of the Committee)
Martin Sutherland

The external auditors attend the meetings to discuss the annual audit plan and conclusions of their audits and reviews. The Chief Executive Officer and the Chief Financial Officer attend by invitation. The Company Secretary attends as secretary to the meeting and ensures that the meetings are properly recorded.

The Committee meets at least twice a year, linked to the timing of the publication of the Group's annual and interim results. It will also meet on an ad hoc basis to support with business delegated to it by the Board. It operates within specific Terms of Reference which include:

  • Considering the appointment of external auditors;
  • Reviewing the relationship with external auditors;
  • Reviewing the financial reporting and internal control procedures;
  • Reviewing the management of financial matters and focusing upon the independence and objectivity of the external auditors;
  • Reviewing the consistency of accounting policies both on a year-to-year basis and across the Group;
  • Reviewing the Group's risk management and the effectiveness of its systems of internal control.

The Audit Committee can call for information from management and consults with the external auditors directly if it is required to do so.

The work of the Audit & Risk Committee can be found on pages 74 to 78 of the 2023 Annual Report and Accounts.