and franchisor to the automotive market
Finance Review and Risk Committe
Risk management policies and systems are reviewed regularly in accordance with changes in market conditions and activities.
The Finance Review and Risk Committee, chaired by a non-Executive Director, reviews the financial statements and the appropriateness of the Group’s accounting and disclosure policies. The committee also monitors the effectiveness and efficiency of internal controls and risk management practices. The external auditors have unrestricted access to the committee and attend the meetings to report on their findings and to discuss accounting, auditing, internal control, financial reporting matters and risk management exposures.
This enables the Group to identify the existing risk profiles and assists management with the implementation of key strategic actions designed to identify and reduce these risks. Reports issued are reviewed by the external auditors and the Audit Committee.
The Internal Audit function follows a Risk Based Methodology. This approach focuses on Holistic Risk Management incorporating key activities such as loss control, safety, health and environmental exposures, performance models and insured risk exposures such as product liability, motor claims and fidelity claims.
Remuneration Committee
The Remuneration Committee is chaired by Mr. Osman Abree. The committee's main responsibility is to monitor the remuneration policies of the Group and to review and approve the remmuneration (including performance based structures and targets) and terms of the Executive Directors
