The new role and responsibility of the Audit Committee is to be a vital “watchdog” and to promote good governance, internal controls and accountability throughout the organisation.

The committee has its prime responsibility to examine and monitor areas such as audit, risk management, counter fraud measures and the overall review of financial reporting.

Through the Audit Committee’s status, impartiality and independence, it will promote a corporate culture that challenges the overall governance, risk management, compliance and IT Security processes and ensures that the financial stewardship is robust.