Corporate Responsibility

Internal Audit

Our Group Audit function was established in 2007 and under its Charter operates across the entire Group. The head of the function reports operationally to the Group Finance Director and functionally to the Chairman of the Audit Committee.

Group Audit activities are driven by a work programme based on risk. It is performed either by teams of appropriately qualified and experienced employees, or, where appropriate, through the engagement of external practitioners upon specified and agreed terms under the direction of the Head of Group Audit. The Head of Group Audit presents formal reports on internal audit activities at Audit Committee meetings and the Audit Committee chairman discusses the key items at Board meetings.

A key function of the Group's internal audit function is to review and test key internal controls on which management seeks to place reliance in its mitigation of risk. Where necessary it will make recommendations for improvement in controls and follow up with management to ensure that agreed actions are taken on a timely basis.