The Audit Committee is mandated to monitor the financial reporting process and system of internal controls surrounding financial reporting and accounting compliance. Amongst other responsibilities, the Audit Committee reviews Brit’s financial statements prior to their approval by the Board and recommends the appointment and dismissal of the external auditors.
The Nomination Committee regularly reviews the structure, size and composition required of the Board and further gives full consideration to succession planning for directors and other senior executives within the Group, taking into account the challenges and opportunities facing the Company and the skills and expertise required for the Board.
Brit recognises the importance of diversity at Board level and that diversity is essential to its long-term success. We believe that I&D is the responsibility of everyone at Brit to help us reach our vision.
As a Board, we want to lead the way by emphasising our personal commitment to modelling diversity. By holding the Executive and the Leadership teams to account and providing visible commitment and leadership to I&D, ensuring fair and equitable treatment is achieved. Our purpose is for everyone to feel respected and valued regardless of gender, age, race, ethnicity, national origin, sexual orientation or identity, disability, education, or any other characteristic.
Our I&D framework is underpinned by an action plan. We are committed to see this embedded throughout Brit. The plan will be carefully monitored against progress and, where required, facilitate challenge to ensure success.
This diversity statement complements our overall vision.
We are committed to regularly reviewing the progress we are making including our approach to Board and executive diversity to ensure its continued relevance, effectiveness and alignment with our I&D commitments.
The Board’s annual evaluation will consider its diversity as part of its performance and effectiveness review.
The Remuneration Committee has been delegated responsibility for the determination of the terms and conditions of employment, remuneration and benefits of each of the chairman of the Board, executive directors, members of the executive and the company secretary. The Remuneration Committee also has responsibility for the determination of all aspects of share based incentive arrangements.