The following committees deal with specific aspects of the Group's affairs:
The audit committee is chaired by Nicholas Taylor with John Booth, Annette Nabavi and Darren Boyce being the other members. Eddie Buxton and Dale Todd (who acts as secretary to the committee) attend meetings as appropriate, as do the external auditors.
The remit of the committee is to:
- Consider the continued appointment of the external auditors, and their fees, terms of engagement and independence, including the appointment of the auditors to undertake non-audit work.
- Liaise with the external auditors in relation to the nature and scope of the audit.
- Review the the form and content of the financial statements and any other financial announcements issued by the Company.
- Review any comments and recommendations received from the external auditors.
- Review the Company's statements on internal control systems and the policies and process for identifying and assessing business risks and the management of those risks by the Company. The audit committee convenes at least twice a year.
- The committee monitors the nature and extent of non-audit work undertaken by the auditors, including reviewing the letter of independence provided by the auditors annually which includes details of audit and non-audit work undertaken.
The board is satisfied that Nicholas Taylor has adequate recent and relevant commercial and financial knowledge and experience to chair the committee, it also considers that Annette Nabavi has such knowledge and experience.
The remuneration committee is chaired by Annette Nabavi, its other members being John Booth and Nicholas Taylor. The committee meets at least once a year. The committee's report to shareholders on directors' remuneration is set out on page 22 of the 2013 Annual Report.
The nomination committee has two members, both non-executive, and is comprised of John Booth, chairman, and Nicholas Taylor. The committee meets as required under the terms of its remit.
The committee's remit includes:
- Reviewing the structure, size and composition of the board.
- Identifying and nominating suitable candidates to fill vacancies on the board.