Page 132 - ACCESS BANK ANNUAL REPORTS_eBook

Record of Attendance at Statutory Audit Committee Meeting in 2017

Name Status Role Jan 25th Jul 25th
Henry Omatsola Aragho Shareholder representative Chairman ✓ ✓
Idaere Gogo- Ogan Shareholder representative Member ✓ ✓
Emmanuel Olutoyin Eleo- Shareholder representative Member ✓ ✓
ramo
Ernest Ndukwe Independent Non-Executive Director Member ✓ ✓
Ajoritsedere Awosika Independent Non-Executive Director Member ✓ ✓
Abba Mamman Tor Habib Non-Executive Director Member ✓ ✓

Tenure of the Statutory Audit Committee ries, they have reasonable expectation that the Group has
adequate resources to continue in operational existence for
The tenure of each Committee member lasts from the date the foreseeable future. Accordingly, they continue to adopt
of election at an Annual General Meeting till the next. The the going concern basis in preparing the financial state-
membership may, however, be renewed through re-election ments.
at the next Annual General Meeting.

External Auditors
Role and Focus of the Statutory Audit Committee
Messrs PricewaterhouseCoopers (PwC) acted as our exter-
The duties of the Statutory Audit Committee are as en- nal auditors for the 2017 financial year. The Board confirms
shrined in Section 359 (3) and (4) of CAMA. The statutory that the Bank has complied with the regulatory requirement
provisions are supplemented by the provision for the Codes as enshrined in the CBN and SEC Codes of Corporate Gov-
of Corporate Governance issued by the CBN and SEC and ernance on the rotation of audit firm and audit partners.
are highlighted as follows: PwC was appointed the Bank’s sole external auditors from
the 2013 Financial year and has held office for five years.
• Ascertain whether the accounting and reporting poli-
cies of the Company are in accordance with legal re-
quirements and agreed ethical practices.
Succession Planning
• Review the scope and planning of audit requirements.
The Board has a robust policy which is aligned to the Bank’s
• Review the findings on management matters in con- performance management process. The policy identifies
junction with the external auditor and management’s key positions, including Country Managing Director po-
responses thereon. sitions for all the Group’s operating entities, in respect of
which there is a proper succession planning. The policy pro-
• Keep under review the effectiveness of the Company’s
system of accounting and internal control. vides that potential candidates for positions shall be identi-
fied at the beginning of each financial year.
• Make recommendations to the Board with regard to
the appointment, removal and remuneration of the
external auditors of the Company, ensuring the inde- Code of Ethics
pendence and objectivity of the external auditors and
that there is no conflict of interest which could impair The Bank’s Code of Conduct specifies expected behaviours
their independent judgement. of its employees and directors. The code is designed to
empower employees and directors and enable effective
• Authorise the internal auditor to carry out investiga- decision-making at all levels of the business according to
tions into any activity of the Company which may be of defined ethical principles. New employees are required to
interest or concern to the Committee. read and sign an attestation that they have understood
the content. In addition, there is an annual re-affirmation
• Assist in the oversight of the integrity of the company’s
financial statements and establish and develop the in- exercise by all employees. There is a Compliance Manual
ternal audit function. that provides guidelines for addressing violations/breaches
and ensuring enforcement of discipline amongst staff. The
• Bank also has a Disciplinary Guide which provides sample
offences/violations and prescribes disciplinary measures to
Going Concern be adopted in various cases. The Head of Group Human Re-
sources is responsible for the design and implementation of
The Directors confirm that after making appropriate enqui-
the Code of Conduct, while the Chief Conduct and Compli-

132 Access BAnk Plc
Annual Report & Accounts 2017