UNBOUNCE - EXAMPLE PAGE-REPORT-ENTERPRISE DOCUMENT-KINGSPAN - Flipbook - Page 102
Audit & Compliance Committee Activities
FEB
JUN
AUG
NOV
Financial Reporting
Review and approve preliminary & half-year results
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Consider key audit and accounting issues and judgements
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Approve going concern and viability statements
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Consider accounting policies and the impact of new accounting standards
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Review management letter from auditors
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Review of any related party matters and intended disclosures
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Review Annual Report, and confirm if fair, balanced and understandable
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External Auditor
Ongoing assessment of auditor performance
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Approval of external audit plan
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Review reports and correspondence from the auditor (EY) to the Audit
& Compliance Committee
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Confirm auditor independence and consider non-audit services and materiality
of related fees
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Approval of audit engagement letter and audit fees
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Internal Audit and Risk Management Controls
Review of internal audit reports and monitor progress on open actions
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Approve internal audit plan and resources, taking account of risk management
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Review of financial, IT and general controls
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Review details of global fraud attempts and management response
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Monitor Group whistleblowing procedures and reports
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Assessment of compliance with Group Global Sanctions policy
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Review of impact of pandemic on financial control environment
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Review of Group liquidity position
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Assessment of the principal risks and effectiveness of internal control systems
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Product Compliance & Certification
Review and approve product compliance and certification internal audit plan and
monitor progress on open actions
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Review and consider the structure and expertise of the product compliance and
certification team
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Receive updates from Group Head of Compliance & Certification
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Review and approve Marketing Integrity Manual
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Governance
Review accounting regulator correspondence
Evaluation of external and internal audit functions
98 - 99
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