Agenda item

(Jeremy Paul Mayhew, MA, MBA)

11 December 2013

Audit and Risk Management Committee – Appointment of Independent Members

At its meeting on 9 September 2011 the Court agreed the procedure for appointing the external, independent, members of the Audit and Risk Management Committee. Whilst the procedure specifies that appointments cover a four year term, it does not include any scope for the re-appointment of existing members. We submit for your approval a printed report which seeks to address this by varying the procedure to allow external members to be re-appointed for a further term.  However, in the interests of maintaining a fresh perspective,we are also recommending that, normally, a maximum of two terms be served in total.

We also seek the Court’s approval to the re-appointment of Kenneth Ludlam and Caroline Mawhood, the current external members of the Audit and Risk Management Committee.  Both terms expire in March 2014 and, in order to maintain an element of continuity, your Committee is recommending that their proposed new terms be staggered at 3 and 4 years respectively, expiring in 2017 and 2018.  For your information, the term of the third external member, Hilary Daniels, who was appointed by the Court in 2012, expires in 2016.

AUDIT & RISK MANAGEMENT COMMITTEE

(Jeremy Paul Mayhew, MA, MBA)

11 December 2013

Audit and Risk Management Committee – Appointment of Independent Members

At its meeting on 9 September 2011 the Court agreed the procedure for appointing the external, independent, members of the Audit and Risk Management Committee. Whilst the procedure specifies that appointments cover a four year term, it does not include any scope for the re-appointment of existing members. We submit for your approval a printed report which seeks to address this by varying the procedure to allow external members to be re-appointed for a further term.  However, in the interests of maintaining a fresh perspective, we are also recommending that, normally, a maximum of two terms be served in total.

We also seek the Court’s approval to the re-appointment of Kenneth Ludlam and Caroline Mawhood, the current external members of the Audit and Risk Management Committee.  Both terms expire in March 2014 and, in order to maintain an element of continuity, your Committee is recommending that their proposed new terms be staggered at 3 and 4 years respectively, expiring in 2017 and 2018.  For your information, the term of the third external member, Hilary Daniels, who was appointed by the Court in 2012, expires in 2016.

Received.