| 7.1 |
consideration
and approval of the appointment and
remuneration of the Company’s
External Auditors and any question of
their resignation or dismissal;
|
| 7.2 |
discussion with the
Company’s External Auditors
before the start of each annual audit
regarding the nature and scope of
the audit, steps taken by the auditor
to respond to changes in regulatory
and other requirements, and where
more than one audit firm is involved
monitoring co-ordination between them;
|
| 7.3 |
review of the half-year
and annual accounts before their approval
by the full Board, focusing in particular
on :-
|
| |
| 7.3.1 |
any
changes in accounting policies
and practices;
|
| 7.3.2 |
major judgmental
areas;
|
| 7.3.3 |
significant adjustments
arising from the audit;
|
| 7.3.4 |
the “going
concern” assumption;
|
| 7.3.5 |
compliance with
accounting standards;
|
| 7.3.6 |
compliance with
legal/London Stock Exchange requirements;
|
| 7.3.7 |
the extent to which
the financial statements are affected
by any unusual transactions in
the period and how they are disclosed;
|
| 7.3.8 |
clarity of disclosures;
and
|
| 7.3.9 |
the Company’s
corporate governance statements. |
|
| 7.4 |
discussion in the absence
of the executive Directors (if appropriate)
of any problems or reservations which
the Company’s External Auditors
may have arising from final audits,
interim audits and any interim reviews
or otherwise;
|
| 7.5 |
review of the External
Auditors’ management letter and
management’s response;
|
| 7.6 |
review of the statement
on the Board’s review of the effectiveness
of its internal control systems prior
to endorsement by the Board;
|
| 7.7 |
review and approval if
appropriate of any representation letters
required by the Company’s External
Auditors;
|
| 7.8 |
to review the internal
audit programme and ensure that the
internal audit function is adequately
resourced and has appropriate standing
within the Company;
|
| 7.9 |
to consider the Internal
Auditor’s findings and management’s
response to their recommendations and
findings; |
| 7.10 |
to prepare and maintain
a policy to ensure that the provision
of non-audit services by the External
Auditor does not impair the External
Auditor’s independence or objectivity;
and |
| 7.11 |
consideration of any other
matter specifically referred to the
Audit Committee by the full Board;
|
| 7.12 |
to ensure that procedures
are in place for the receipt of and
dealing with any complaints received
by the Company about its accounting
or auditing matters and for the confidential,
anonymous submission by employees of
the Company and its subsidiaries of
accounting, regulatory and or auditing
concerns.
|
