The Company has established an Audit Committee comprising three Directors, all of whom are independent: AF Guy (Chairman), RJ Edgar, GJ Kraehe and AJM Williams. They meet periodically to review issues relating to the controls applied to the Company’s activities, accounting policies, the content of financial statements and related issues. Meetings of the committee are attended by a partner from the Company’s auditors, PricewaterhouseCoopers and the Managing Director, RE Barker, by invitation.
The Nomination committee, comprises three Non-Executive Directors, with GJ Kraehe as the Chairman and the members being AF Guy, K Fagg and J Paterson. It considers matters relating to the orderly renewal of the Board, Board performance and how to attract and retain directors of high calibre with the appropriate experience and skill to contribute successfully to the oversight of the Company.
Consideration of potential Directors to fill vacancies is also undertaken by the Board Nomination Committee. Matters to be considered by the Committee will include the ability of the proposed director to contribute towards achievement of the Company’s goals, breadth of business experience and knowledge of the Australian investment scene.