The Board established an Audit Committee on 23 February 2001.

The Audit Committee’s powers and responsibilities are governed by a formal charter.< Charter - Audit Committee>

The Audit Committee reviews the integrity of the Company's financial reporting and oversees the independence of the external auditors.

The Audit Committee is comprised solely of non-executive Directors and is chaired by a Director who is both independent and non-executive and is not the Chairman of the Company. All of the Company’s independent Directors are members of the Audit Committee and constitute half of the total committee membership.