The Auditors Ernst & Young LLP, have indicated their willingness to continue in office and a resolution seeking to reappoint them will be proposed at the Annual General Meeting.
The Audit Committee oversees the relationship with the external auditors and reviewed the terms of engagement of Ernst & Young LLP, the external auditor and approved audit plans and timescales prior to the year-end audit.
As part of its review of the financial statements prepared by the Company, the Audit Committee has reviewed the findings of the external auditor, reviewed management representation letters and considered recommendations made by the external auditor in the course of their work.
The Audit Committee has noticed an increasing level of colloaboration between Ernst & Young LLP and the Company's Internal Audit Department in order to improve the respective efficiency of the external and internal audit process.