Twenty-First Century Fox 2002 Annual Report Download - page 41

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Compensation Committee
The Compensation Committee consists of the following Directors:
J A M Erkko KBE
S S Shuman
Details of Directors’ remuneration, superannuation and retirement payments are set out on page 51.
The Compensation Committee has been established to review and make recommendations to the Board on the remuneration
of the Chief Executive and to review and make recommendations to the Chief Executive on the remuneration of the other senior
executive officers.
Share Option Committee
The Share Option Committee consists of the following Directors:
K R Murdoch AC
A M Siskind
The Share Option Committee determines to whom and how many options should be granted in furtherance of the Company’s
share option plans.
Audit Committee
The Audit Committee consists of the following Non-executive Directors:
S S Shuman, Chairman
J A M Erkko KBE
A S B Knight
T J Perkins
The Audit Committee, which operates under a Charter approved by the Board, meets at least twice each year with the Company’s
internal and external auditors. The purpose of these meetings is:
• to review the yearly and half-yearly financial results and statements, the findings of the audit, and any adjustments required
to the financial statements as a result of the audit;
• to discuss any problems foreseen in the audit process;
• to discuss with the external auditors their judgements about the quality and acceptability of the accounting policies applied
in the financial statements;
• to review the external auditors’ fees and performance and discuss with them their independence;
• to recommend to the Board that the financial statements be approved;
• to recommend to the Board the selection of the independent external auditors;
• to review the annual internal audit plan and the results of internal audit’s activities;
• to review the adequacy of internal controls; and
• to advise the Board on any other requested issues.
The Audit Committee invites senior executives of the Company, including the Chief Financial Officer and Group General Counsel,
to participate in its meetings.
40
Statement of Corporate Governance (Continued)
FOR THE YEAR ENDED 30 JUNE, 2002
THE NEWS CORPORATION LIMITED
Annual Report 2002