12.1  The Committee shall review and monitor the integrity of the Company and the Group’s financial statements, including its annual and half-yearly reports, interim management statements, preliminary announcements, trading updates and any other formal announcements relating to its financial performance requiring Board approval. The Committee shall also review summary financial statements, significant financial returns to regulators and any financial information contained in certain other documents, such as announcements of a price sensitive nature taking into account:

12.1.1  Whether the Company has adopted appropriate accounting policies and applied them consistently both on a year on year basis and across the company/group;

12.1.2  The appropriateness of any significant estimates and judgements, taking into account the views of the external auditor;

12.1.3  The clarity of disclosures and whether they are set properly in context;

12.1.4  Any significant adjustments resulting from the audit;

12.1.5  The going concern assumption;

12.1.6  Compliance with accounting standards; and

12.1.7  Compliance with stock exchange UK Listing Authority Listing Rules and other legal requirements.

12.1.8  All material information presented with the financial statements, such as the business review and the corporate governance statement (insofar as it relates to the audit and risk management).

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