BT 2009 Annual Report Download - page 57

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ADDITIONAL INFORMATION FINANCIAL STATEMENTS REPORT OF THE DIRECTORS BUSINESS AND FINANCIAL REVIEWS OVERVIEW
REPORT OF THE DIRECTORS
55BT GROUP PLC ANNUAL REPORT & FORM 20-F
July:
non-audit services governance policy;
Audit Committee and External Audit effectiveness;
first quarter results, announcement and related formal
statements;
BT Global Services major contracts review;
pension accounting assumptions;
management of corporate fraud risks.
October:
review and approval of trading update.
November:
review of fees for audit and non-audit work;
half year results, announcement and related formal statements;
BT Global Services major contracts review;
review of global assurance capabilities;
half year report on the performance of Internal Audit and
Regulatory Compliance;
review of internal control requirements under Sarbanes-Oxley
and the Combined Code for the 2009 financial year;
review of regulatory developments;
external audit plan.
January:
review and approval of trading update.
February:
third quarter results, announcement and related formal
statements;
BT Global Services major contracts review;
trends on auditing and accounting issues in overseas operations;
annual review of accounting policies;
the process for post investment reviews;
review of the operation of Sarbanes-Oxley S404 processes;
the Internal Audit Plan for the 2010 financial year.
The Committee evaluated its performance and processes by again
inviting Committee members and key executives and the external
auditors to complete questionnaires. This formed part of the annual
Board and Committee evaluation. Committee members, and those
others consulted, continue to regard the Committee as effective on
both behaviours and processes. The Committee agreed that there
should be continued focus on the conciseness and improving the
clarity of papers and that the Board annual accounting seminar
should cover enterprise-wide risk management processes in
addition to key financial issues. The Committee also reviewed the
experience, skills and succession planning within the Group Finance
function.
REPORT OF THE DIRECTORS REPORT OF THE AUDIT COMMITTEE