Overall purpose/objectives

The Audit Committee is appointed by the Board to assist the Board in discharging its responsibilities in the areas of financial reporting, internal audit and risk management. The Audit Committee will regularly oversee the accounting and financial reporting process and the audits of the financial statements of the Company to ensure the balance, transparency and integrity of published financial information. The Audit Committee will ensure that the audits carried out and the subsequent audit reports conform to the audit plan.

The Audit Committee will also regularly review:

• the effectiveness of the Company's internal financial control and risk management system;
• the effectiveness of the internal audit function;
• the independent audit process including recommending the appointment and assessing the performance of the external auditor;
• and the Company's process for monitoring compliance with laws and regulations affecting financial reporting and, if applicable, its code of business conduct.

In performing its duties, the Committee will maintain effective working relationships with the Board, management, and the external and internal auditors. To perform his or her role effectively, each Committee member will need to develop and maintain his or her skills and knowledge, including an understanding of the Committee's responsibilities and of the Company's business, operations and risks.

To review the Audit Committee Internal Regulations, please click here.