We are proud to provide a sustainable, affordable, clean and safe water supply and to manage and treat the waste water returned to us in a way that protects the environment.
The Audit Committee comprises three independent non-executive directors, in accordance with the requirements of the Combined Code. The Chief Executive Officer and Finance Director also attend Audit Committee meetings at the invitation of the Chairman of the Audit Committee, but have no right of attendance.
The main duties of the Audit Committee are:
• to monitor and review the integrity of the financial statements and any formal announcements;
• to review the Company's internal financial controls and internal control and risk management systems;
• to monitor and review the effectiveness of the internal audit function;
• to make recommendations in respect of the external auditor and approve the remuneration and terms of engagement;
• to review the external Auditor's independence; and
• to develop and implement policy on the engagement of the external Auditor to supply non-audit services.
The work of the Audit Committee is described in the Annual report and financial statements.
For more detailed information on the functions performed by the audit Committee, please refer to the Audit Committee Terms of Reference.