The Audit Committee has considered reports made to it by the executive management of the Group, which assesses the major business risks and the control environment against the criteria for assessing internal financial controls which are set out in the guidance for directors on reporting on internal control. The Audit Committee has reported to the Board that it has been able to review the effectiveness of the Group’s system of internal financial control for the accounting year and the period to the date of approval of the financial statements.
The Group has a policy for the employment of the auditors for non-audit work. The auditors work on tax issues for the Group but any increase in fees is strictly controlled by the Audit Committee. Any other non-audit assignments can be awarded to the auditors during the year but only where fees are within Audit Committee approved limits.
Going concern basis
As required by UK company law the Directors have considered and confirm that it is appropriate to adopt the financial statements on the basis that the Company and Group have adequate resources for the foreseeable future, as disclosed in the Finance Director’s review. Therefore the Company and the Group continue to adopt the going concern basis in preparing the financial statements.
