Audit Committee

Constitution The Audit Committee is formally constituted as a committee of the CoM. The terms of reference are approved by the CoM. Membership The Committee shall be appointed by the CoM. At least two members of the Committee including the Chair shall be non-executive members of the CoM. The Chair shall not chair any other CoM committee. The CoM may co-opt additional members to the Committee as required; initially there will be four members of the Committee. A quorum shall be two members of whom at least one shall be a non-exec CoM member. At least one member of the Committee should have a financial background. Frequency of Meetings shall be held at least three times per year (generally every quarter Meetings and ideally two weeks prior to a CoM meeting). Attendance Members of the Management Team shall attend meetings as appropriate. of Meetings The Finance Manager shall normally attend meetings. A representative of the external auditors may be requested to attend meetings when appropriate. Authority The Committee is authorised by the CoM to investigate any activity within its terms of reference. It is authorised to seek any information it requires from any employee and all employees are directed to co-operate with any request made by the committee. The Committee is authorised by the CoM to obtain outside legal or other independent professional advice and to secure the attendance of outsiders with relevant ...