Audit Committee

The role of the Audit Committee is to assist the Board in discharging its obligations with respect to ensuring the integrity and reliability of information prepared for use by the Board and the integrity of the Company’s internal controls affecting the preparation and provision of that information in determining policies or for inclusion in the financial report.

The Audit Committee:

is the focal point of the communication between the board, management and the external auditor;

recommends and supervises the engagement of the external auditor and monitors auditor performance;

reviews the effectiveness of management information and other systems of internal control;

reviews all areas of significant risk and arrangements in place to contain those to acceptable levels of financial exposure;

reviews the year end and interim financial information and ASX reporting statements;

monitors the internal controls and compliance with the Corporations Act, ASX Listing Rules, reviews external audit reports and ensures prompt remedial action;

reviews the company’s financial statements (including interim reports) and accounting procedures; and

consider matters before the board having regard to any possible personal interests, the amount of information appropriate to properly consider the subject matter and what is in the best interests of the company.

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