The Board has established the following principal Committees, each of which has written terms of reference (approved by the Board) setting out its authority and duties.
The Committee is an important element of the Group’s governance structure and provides effective oversight of the performance, independence and objectivity of the auditor and the audit process. The Committee's role is to review and advise the Board on financial reporting including the processes around the portfolio valuation, which is the most significant figure in the annual results
- Review in detail the work of the external auditor and valuer and any significant financial judgement made by management.
- Monitor the Group’s reporting process and financial management.
- Scrutinise the full and half yearly financial statements.
- Consider the appointment of the external auditor, their reports to the Committee and their independence.
- Review the risk management framework and ensure that risks are carefully identified and assessed, and that systems of risk management and internal control are in place and effective.
- Review the Group’s arrangements by which employees and our supply chain may raise concerns about possible improprieties in financial reporting or other matters.
|Dermot Mathias - Chairman|
The remuneration policy sets out our approach to the reward of executive and non-executive directors. Our aim is to provide a remuneration structure which is fair, with incentives aligned with the Group’s strategy and long-term objectives, and which encourages executive continuity.
- Determine the terms of employment and remuneration for executive directors and the Company Secretary.
- Ensure that the executive directors are remunerated fairly and responsibly with the long-term interests of the Company in mind.
- Consider the appropriateness of the directors’ remuneration framework against arrangements for other employees.
- Review the remuneration policy every three years.
- Approve the design, targets and outcomes for the annual bonus schemes and share incentive schemes.
- Ensure that the remuneration report and disclosure of director remuneration is simple to read and understand, accurate and complete.
|Sally Walden - Chairman|
The primary role of the Committee is to consider Board composition and orderly succession, both for executive and non-executive directors.
- Review the structure, size and composition of the Board and its Committees (including skills, experience, independence and diversity) and make recommendations to the Board accordingly.
- Lead the process for new Board appointments and review succession for directors and senior management.
- Review the time commitment expected from the Chairman and non-executive directors.
- Ensure an effectiveness review of the Board, its Committees and directors is conducted annually.
|Jonathan Nicholls - Chairman|
The primary responsibility for the committee is overseeing the disclosure of information by the Company to meet its obligations under the Market Abuse Regulations (MAR).
|Chairman of the Board|