Page 57 - CON Boardpack FEBRUARY 2020 FINAL (v5) P1 - 75_Neat

6. ROLES AND RESPONSIBILITIES OF THE COMMITTEE
Appoint the external auditors and set the scope of the audit.

Approve the terms of engagement and fees for the audit.
Approve in advance the engagement letters.

Approve in advance permitted non-audit services rendered by independent
auditors.

Evaluate the independence and effectiveness of internal auditors.
7. SUSTAINABILITY ISSUES

Recommend that the Board engage an external assurance provider on material
sustainability issues.

Review the disclosure of sustainability issues in the integrated report to ensure that
the information is reliable and does not conflict with the financial information.
8. INTERNAL CONTROL

Evaluate to determine whether Management is setting the appropriate “control
culture”, communicating the importance of internal control and ensuring that all
employees have an understanding of their roles and responsibilities.
Consider the effectiveness of the Organisation’s internal control system, including
information technology security and control, and assess whether Management has

controls in place for unusual types of transactions and/or any potential transactions
that may involve an unacceptable degree of risk. The Committee can make use of
internal and external audit and management reports to guide them in this regard.
Consider how management is held to account for the security of computer systems
and applications and the contingency plans for processing financial information in
the event of a systems breakdown.

Gain an understanding of whether Management has implemented the internal
control recommendations made by internal and external auditors.

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