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Integrated annual report 2017
CORPORATE GOVERNANCE REVIEW
(CONTINUED
)
REPORT OF THE AUDIT COMMITTEE
(CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2017
INTERNAL AUDIT
The committee has oversight of the group’s
nancial statements and reporting process,
including the system of internal nancial control.
It is responsible for ensuring the independence
of the internal audit function and that it has the
necessary resources, standing and authority in
the organisation to discharge its duties. The
committee also oversees cooperation between
the internal and external auditors and serves as
a link between the board and these functions.
ATTENDANCE
The internal and external auditors, in their
capacity as auditors to the group, attended and
reported at all meetings of the audit committee.
The risk management function was also
represented. Executive directors and relevant
senior managers attended meetings by invitation.
CONFIDENTIAL MEETINGS
Audit committee agendas provide for
con dential meetings between members
and the internal and external auditors.
INDEPENDENCE OFTHE EXTERNAL
AUDITOR
In the review period, the committee received a
representation by the external auditor and, after
conducting its own review, con rmed the
independence of the auditor.
EXPERTISE AND EXPERIENCE OFTHE
CHIEF FINANCIAL OFFICER AND
FINANCE FUNCTION
The committee satis ed itself that the
composition, experience and skills set of the
group chief nancial of cer and the broader
nance function met the group’s requirements.
DISCHARGE OF RESPONSIBILITIES
The committee determined that, in the current
nancial year, it had discharged its legal and
other responsibilities as outlined by its remit,
details of which are included in the integrated
report. The board concurred with this
assessment.
D G Eriksson
Chair: Audit committee
9 June 2017