The Audit committee oversees and reviews the Group's financial reporting processes and the integrity of the financial statements, the efficacy of the risk management framework and scrutinises the work of the internal and external auditors.
The Audit Committee comprises the following independent Non-Executive Directors and met on five occasions for the year ended 31 March 2017.
Aman Mehta, Chair
¹Mr Macdonald retired from the Board on 5 August 2016 and attended all the meetings of the Audit Committee which he was entitled to attend while a member of it.
²Mr Parekh was unable to attend one meeting of the Audit Committee as he was a member of the business delegation supporting the Prime Minister of India for the state visit to Japan.
³Mr Green attended all the meetings of the Audit Committee which he was entitled to attend since his appointment as a member of it.
ˆMr Rajagopal attended all the meetings of the Audit Committee which he was entitled to attend since his appointment as a member of it.
At the invitation of the committee the following officers normally attend, all meetings of the Committee:
Other members of senior management are also invited to attend as appropriate, to present reports.
The Board has established formal and transparent arrangements for considering how they should apply the corporate reporting, risk management and internal control principles and for maintaining an appropriate relationship with the Company’s auditors. The Audit Committee’s remit falls into four main areas: financial reporting, risk and the internal control environment and oversight of the external and internal audit processes.
The main responsibilities of the Audit Committee are to:
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