EasyJet 2014 Annual Report Download - page 63
Download and view the complete annual report
Please find page 63 of the 2014 EasyJet annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53 -
54 -
55 -
56 -
57 -
58 -
59 -
60 -
61 -
62 -
63 -
64 -
65 -
66 -
67 -
68 -
69 -
70 -
71 -
72 -
73 -
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
 |
 |
www.easyJet.com 61
Governance
Main activities and responsibilities of the Committee during the financial year
Please refer to the Audit Committee terms of reference for further details on the Committee’s duties and
responsibilities, available in the governance section of easyJet’s corporate website: http://corporate.easyJet.com
Responsibilities How the Committee has discharged its responsibilities
To monitor and review:
The integrity of the financial statements and related
formal announcements, and the significant financial
reporting issues and judgements which they contain
Review of the financial statements and announcements
relating to the financial performance and governance
of the Group at year end and half year.
The Committee also considered the material areas in
which significant judgements have been applied based
on reports from both the Group’s management and the
external auditors.
Further information is provided in the Financial reporting
and significant financial issues section.
The Group’s risk management systems and internal control Review of the adequacy and effectiveness of the Group’s
ongoing risk management systems and processes, through
risk and assurance plans and reports, including:
• risk assessments;
• information security and business continuity;
• control themes; and
• internal financial control assessments.
Further information is provided in the Risk management
and internal control section.
The effectiveness of the Company’s Internal Audit
function and its activities
The Committee undertook an assessment of the
effectiveness and independence of the Internal Audit
function, which included consideration of:
• key Internal Audit reports;
• stakeholder feedback on the quality of Internal Audit activity;
• Internal Audit’s compliance with prevailing professional
standards; and
• closure of Internal Audit recommendations.
Further information is provided in the Internal audit section.
The Company’s relationship with the external
auditors, including:
• their independence and objectivity;
• the effectiveness of the external audit process;
• recommending the appointment, re-appointment
or removal of the external auditors;
• approving their remuneration and terms of engagement;
and
• the policy regarding the supply of non-audit services.
The Committee considered the re-appointment of
the external auditors, confirming and assessing their
independence, objectivity and effectiveness.
Further information on:
• how the effectiveness, independence and objectivity
of the external audit process were assessed is provided
in the External auditors and effectiveness of external
audit process section below; and
• the external auditors’ non-audit services, and audit
tendering, is provided in the Non-audit services and
the Audit tendering sections, respectively.