EasyJet 2014 Annual Report Download - page 62

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60 easyJet plc Annual report and accounts 2014
Corporate governance report continued
“ I succeeded David Bennett as Chair of the Committee
in June. On behalf of the Committee I would like to
thank David for his effective chairmanship over the last
nine years. I would also like to welcome Andy Martin,
who brings a further wealth of recent and relevant
financial experience to the Committee.
During the year, the Audit Committee has continued
to devote significant time to the scrutiny of the
appropriateness of the Group’s system of risk
management and internal controls, the integrity of
the Group’s financial reporting, together with the
robustness of the internal and external audit processes.
Looking ahead to next year, the Committee welcomes the
changes to the revised UK Corporate Governance Code,
and the FRC’s Guidance on Risk Management, Internal
Control and Related Financial and Business Reporting,
published in September 2014. These changes will apply
to the Company from its 2015 financial year and allow
the Committee to further strengthen its role as a key
independent oversight committee adding value to
the Group. The key Code changes with respect to the
Committee, regarding the robust assessment of principal
risks and how they are being managed and mitigated,
and carrying out an effectiveness review of the risk
management and internal control systems in place,
are already, and will continue to be, focus areas for the
Committee. The Committee will increase its number of
meetings from three to four for the forthcoming financial
year, in order to continue to discharge its set of
responsibilities effectively.”
Membership as at 30 September 2014
(all members are independent Non-Executive Directors)
• Adèle Anderson (appointed as Chair on 12 June 2014)
• David Bennett (stepped down from Committee on
1 October and stepped down as Chair on 12 June 2014)
• Keith Hamill
• Andy Martin (appointed to Committee on 1 July 2014)
The Committee members have been selected to provide
the wide range of financial and commercial expertise
necessary to fulfil the Committee’s duties and
responsibilities. Adèle Anderson was a partner in KPMG
until July 2011 and held roles including Chief Financial
Officer of KPMG UK, Chief Executive Officer of KPMG’s
captive insurer and Chief Financial Officer of KPMG
Europe. David Bennett was previously an Executive
Director of Abbey National plc, and prior to that the
Chief Executive Officer and Finance Director of Alliance
and Leicester plc. Keith Hamill has had considerable
experience as a director of listed companies and was
Finance Director of WHSmith, Forte and United Distillers
and a partner in Price Waterhouse (from 1986 to 1988).
Andy Martin was Group Finance Director of Compass
Group plc between 2004 and 2012, and prior to this held
other senior financial positions with First Choice Holidays
plc (now TUI Travel plc), Forte plc and Granada Group
plc. The Board considers the Committee members’
financial experience to be recent and relevant for the
purposes of the Code.
Meetings held in the 2014
financial year: 3
AUDIT COMMITTEE
Adèle Anderson
Chair of the Audit Committee