EasyJet 2015 Annual Report Download - page 63

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Strategic report Governance Accounts
59
www.easyJet.com
FINANCE COMMITTEE IT GOVERNANCE AND
OVERSIGHT COMMITTEE
ADÈLE ANDERSON,
CHAIR OF THE FINANCE COMMITTEE
JOHN BROWETT,
CHAIR OF THE IT GOVERNANCE AND OVERSIGHT COMMITTEE
Keith Hamill stepped down from the Committee effective from
13 November 2014.
Key responsibilities
To review and monitor the Group’s treasury policies and treasury
and funding activities, and the related risks.
Highlights of the 2015 financial year
The Committee undertook:
• a review of debt funding alternatives;
• a review of foreign exchange and interest rate hedging
strategies; and
• a review of the unearned revenue and cash position.
Key responsibilities
To provide independent oversight over the governance and
controls relating to the IT business area, in particular covering
the required resilience and change. Specifically the Committee:
• monitors the strategic direction of the IT programme to ensure
it supports easyJet’s long-term goals within the ambit of its
strategic framework;
• reviews the risks and controls associated with IT strategy to ensure
appropriate mitigation is built into the implementation process;
• monitors implementation of the IT strategy and ensures that
changing business needs are being met in the context of
the Company’s strategic goals and competitive position; and
• provides financial oversight over the IT programmes as the
Committee considers necessary, including ensuring an appropriate
framework within which budgetary decisions are made.
Highlights of the 2015 financial year
The Committee has reviewed:
• the prioritisation and sequencing of the various IT programmes;
• the tender process for systems relating to an e-commerce
platform;
• the requirements and capacity of the operational platform; and
• the capabilities required to deliver the IT programmes.
The Finance Committee continues to provide effective
oversight of the Group’s treasury and funding policies and
activities, ensuring that activities undertaken will not subject
the Group to undesired levels of risk, and that treasury
activities are appropriately aligned with Group strategy
and support the Group financial performance.
Membership as at 30 September 2015
(all members are independent Non-Executive Directors)
• Adèle Anderson (Chair)
• Andy Martin
• Charles Gurassa (appointed to the
Committee effective from 13 November 2014)
The IT Governance and Oversight Committee provides
governance oversight, and gives independent validation
and challenge, to one of the Company’s key business areas.
Membership as at 30 September 2015
(all members are independent Non-Executive Directors)
• John Browett (Chair)
• Adèle Anderson
• Keith Hamill
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