In compliance with the requirements of the Listing Rules issued by the Listing Authority the Board of Directors established an Audit Committee to support it in its responsibilities in dealing with issues of risk; control and governance; and associated assurance.
The Committee’s terms of reference of the Audit Committee establish the composition, role and function of the Committee, the parameters of its remit as well as the basis for the processes that it is required to comply with. The Committee is a sub-committee of the Board and directly responsible and accountable to the Board. The Board reserves the right to change these terms of reference from time to time. The Audit Committee is composed of the following Directors:
Mr Lawrence Zammit
Mr Mario P. Galea – Member competent in accounting
Mr Kevin Valenzia – Member competent in accounting
The above are non-executive directors of the company.
PricewaterhouseCoopers are engaged as external auditors on an annual basis during the company’s Annual General Meeting by means of a resolution for their appointment.
The contact details of PricewaterhouseCoopers are:
78 Mill Street
Tel: +356 2124 7000
Fax: +356 2124 4768