The Audit & Risk Committee ("A&R Committee") meets not less than three times a year.
The A&R Committee is responsible for:
• Reviewing and recommending approval of the semi-annual and annual financial statements of the Group
• Reviewing the effectiveness of the accounting and internal control system
• Overseeing the relationship with the external auditor, including but not limited to meeting them regularly, and monitoring their remuneration, terms of engagement and independence
• Monitoring the risks and their potential impact on the Company
The Management Engagement Committee ("ME Committee") meets at least once per a year.
The ME Committee is responsible for:
• Considering the performance of the Investment Manager in respect of the service level requirements set out in the Investment Management Agreement
• Considering whether the continuing appointment of the Investment Manager, on the terms of the management contract, is aligned with the interests of shareholders as a whole, and make recommendations to the Board thereon together with a statement of the reasons for their view
• Reviewing and considering the performance and engagement terms of other service providers to the Company