The Committee focuses on the quality of the Group’s financial reporting and the effectiveness of the Group’s systems of internal control and, in conjunction with the Risk Committee, risk management processes. It also oversees the integrity of internal audit and assurance and manages the relationship with the Group’s external auditors. The latter responsibility entails ensuring that the external auditors provide an effective and independent audit.

The Committee’s ultimate goal is to ensure the integrity of financial reporting and implementation of sound internal controls and risk management. The Committee considers and reviews reports from management with a view to assessing the quality of the financial reporting and compliance with disclosure requirements.

The external auditors attend the committee meetings to present their report on key matters and any findings deemed necessary to bring attention to the Committee. In terms of overseeing internal audit, the Group Chief Risk Officer attends the meetings and has direct communication lines with the Committee Chairman.

The Chairman and two members of the Committee are independent non-executive Directors.