Audit Committee

The Audit Committee comprises Kay Chaldecott, Andrew Walker and is chaired by Chris Taylor. The Audit Committee meets at least twice a year and will, inter alia, review the financial reporting process and system of internal control and management of financial risks (including understanding the current areas of greatest financial risk and how these are managed, reviewing annual financial statements, assessing the fairness of preliminary and interim statements and disclosures and reviewing the external audit process).

The Audit Committee is responsible for overseeing the Company’s relationship with the external auditors, including making recommendations to the Board on the appointment of the external auditors and their remuneration. The Audit Committee considers the nature, scope and results of the auditors’ work and reviews, and develops and implements policy on the supply of any non-audit services that are to be provided by the external auditors. It receives and reviews reports from the Company’s external auditors relating to the Company’s annual report and accounts. The Audit Committee focuses primarily on compliance with legal requirements, accounting standards and the AIM Rules and ensuring that an effective system of internal financial and non-financial controls is maintained. The ultimate responsibility for reviewing and approving the annual report and accounts will remain with
the Board.

Document	Download
Audit Committee - Terms of Reference 19 Nov 2010