Vehicle at the East copper mine

Audit Committee

The Audit Committee’s overarching purpose is to reassure shareholders that their interests are properly protected in respect of the Company’s financial management and reporting. The primary responsibilities of the Committee are set out below.

Audit Committee members

The committee comprises:

  • Michael Lynch-Bell – Chair

  • John MacKenzie

  • Charles Watson

Role of the Audit Committee

Key roles and responsibilities of the Audit Committee include:

  • monitoring and challenging, where necessary, the integrity of the financial statements, the annual and half-yearly results, interim management statements and any other formal announcement relating to financial performance, including a review of the financial reporting judgements which they contain;
  • reviewing and challenging, where necessary, the actions and judgements of management taking into account the views of the external auditors in relation to the Company's financial statements, strategic report, financial review, governance statement (insofar as it relates to audit and risk management), half-yearly reports, preliminary announcements and related formal statements, including the going concern assumption and the viability statement;
  • reviewing the Company’s internal controls, including financial controls and risk management systems;
  • approving the annual and three year internal audit plans and monitoring the role and effectiveness of the internal audit function;
  • overseeing the Company’s relationship with the external auditors, including the monitoring of their independence and expertise, the terms of their engagement and fees, and assessing the effectiveness of the audit process with due regard to relevant UK professional and regulatory requirements;
  • agreeing the scope of the external auditors’ annual audit plan and reviewing the output;
  • reviewing and approving any changes to the policy on the provision of non-audit services by the external auditors;
  • assessing annually the Committee’s own performance, constitution and terms of reference; and
  • reporting to the Board on how the Committee has discharged its responsibilities.

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Our Board

Our Board of Directors brings together expert individuals from across a number of different industries

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Management team

Our management team is committed to serving and protecting stakeholders

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