The functions of the Committee are as follows  

• External Audit 3 - Responsibilities
• To review the financial information that will be provided to shareholders and the public and assess whether it is consistent with the committee member’s information and knowledge and is adequate for shareholders’ needs
All employees of Leigh Creek Energy are responsible for ensuring this policy is implemented and have a duty to take care of their own Health and Safety and the Health and safety of others. All employees must comply with safety procedures and reasonable directions and must inform their Supervisor or Manager of any hazards, incidents, accidents, injuries or near misses occurring within the workplace. No employee, worker or visitor is permitted to encourage or coerce another to engage in an unsafe act or an act that an individual believes may be unsafe. Managers must be aware of their allocated responsibilities and ensure that the HSMS is implemented at all times.
• To review and recommend to the Board the external auditors to be proposed to shareholders, following a commercial tender, if deemed necessary and to recommend removal of any external auditor, if necessary
 
• To review the systems of internal controls that the Board and management have established
• To review the Company’s auditing, accounting and financial reporting processes
• To review the external audit plan to ensure it is consistent with the scope of the external audit engagement
• To review all external auditors’ findings and recommendations and management’s proposed response
• To oversee the Company’s relationship with the external auditor and to meet as needed with the external auditor. The committee shall meet the external auditor at least once a year to discuss the external auditors’ report and any issues arising from the audit
• To periodically review the performance of the external auditors and the effectiveness of the audit process, taking into consideration relevant professional and regulatory requirements
• Review and approve the fees and other remuneration paid to the external auditors for audit and non audit services
• Review and approve the policy for the pre-approval of the engagement of the external auditors to provide non audit service, and the approval of other non audit services on a case by case basis
• Ensure that the external auditors submit a written statement outlining all of its professional relationships with the Company including the provision of non audit services that may affect their objectivity or independence. Review with the external auditors all significant relationships they have with the Company and verify their independence.

• Risk
• To ensure that controls are in place to assist management identify risk and develop risk mitigation and monitoring strategies as part of the risk management policy ESG
• To review policies for risk management and evaluate the internal processes for determining and managing material risks
• To ensure that risks are managed in a strategic and systematic manner Environment
• To promote an awareness of risk management and risk minimisation throughout the Company
• To provide guidance on business continuity ensuring recognised best practices are followed Community
• To evaluate the process in place for assessing and continuously improving internal controls, particularly those related to areas of material risk
Safety

• Compliance
• To review the compliance with policies, plans, procedures, laws, standards and regulations that apply to the operations, maintenance and associated activities of the Company
• To ensure that accounting and other internal control processes are appropriate for the level of risk and meets accepted standards and comply with legislative and reporting requirements
• To review and recommend the approval, where appropriate, of the statements to be included in the annual report concerning internal controls and risk management

• Fraud
• To review and discuss fraud prevention and monitoring strategies as developed and reported by management
• Receive reports on any detected fraudulent or corrupt activities, discuss findings and monitor agreed actions WonderWebs.com
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• Other Matters
Terms
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• To review/discuss outcomes and/or findings from any special projects and investigations as authorised by the CEO into any matter or activity affecting the interest and operating efficiency of the Company
• The Committee may also consider other matters referred to it by other committees of the Company and external audit, including but not limited to: Privacy
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• Review of the Company’s insurance cover
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• Review of the Company’s tax planning and compliance
• Review of the Company’s whistle blowing program

Conflict of Interest

Members will declare a conflict of interest whenever they feel that their participation or contribution could be viewed as influenced by another role they undertake either within or outside the Company

Our Business

Meetings

The Committee shall meet not less than three times per year. The Company Principal Accounting Officer, other senior financial management and external auditors are able to attend all meetings as ex-officio members.

About LCK

As part of is responsibility to foster open communication, the Committee should meet independently with management and the external auditors at least annually.

Demonstration project

Reporting

Commercial project

The Committee reports and is accountable to the Board. Minutes of each meeting will be recorded, endorsed and signed by the Chair of the Committee. Minutes of the Committee meetings will be provided to the Board.

About ISG

Committee Membership