Governance

So we have developed a comprehensive corporate governance framework which is modelled on international best practice and complies with all regulatory requirements.

This framework sets out the:

• Responsibilities of the Board and individual Directors
• Terms of reference for each of the company’s Board Committees
• Appropriate delegation of authority to Management

Board of Directors

The Board comprises twelve directors. It provides strategic direction, management supervision and adequate controls with the ultimate objective of promoting the success and long term value of the company.

Board Committees

The Board has four Board Committees to enable it to attend to the details of key matters and business decisions outside Board Meetings and to bring additional resources and expertise the Board may require. The Board Committees are:

• Audit and Risk Committee
• Technical & Projects Committee
• Human Capital Committee
• Finance & Commercial Committee

Charters set out the qualifications for committee membership and guide the functioning of these committees.

Internal control, risk management and compliance

Our Finance and Legal and Compliance departments are responsible for our internal controls, risk management and compliance functions. These functions collectively ensure that we are able to achieve our business objectives in a prudent manner, safeguarding the interests of our shareholders and other stakeholders, while minimising key risks such as fraud, unauthorised business activity, misleading financial statements, uninformed risk taking or breaches of legal or contractual obligations.

External and internal auditors

Our external auditor is Deloitte & Touche.  We also have an internal auditor function whose role is to support our internal control, risk management and compliance functions, through regular internal audits and risk assessments.