Sir Trevor Chinn, John Hewett and Steven Norris serve on the audit committee, with Sir Trevor Chinn as chairman. In reporting financial results to shareholders, the committee depends on the skill, objectivity and independence of the external auditors.
The committee's areas of activity include
assessment of independence of auditors;
approval of auditors' re-appointment and fees;
approval of scope of internal audits;
review of the findings of external audits;
approval of management representations to the external auditors;
review of financial statements and results announcements;
review of arrangements for reporting and investigation of employee concerns;
review of internal audit findings and monitoring of effectiveness of internal audit;>
review of effectiveness of Board's internal controls and risk management process;
assessment of internal and external audit effectiveness;
recommendation of new terms of reference for committee and internal audit function.
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