The Audit and Risk Committee has an independent role with accountability to both the Board and members of the company. The purpose of this committee is to assist the Board in implementing its duties such as:
- safeguarding of assets;
- accounting systems and practices;
- the integrity of internal financial control processes;
- preparation of accurate financial reporting and statements; as well as
- development, implementation and management of FPI’s information technology resources.
Human Capital Management Committee
The Human Capital Management Committee serves as a medium to monitor and strengthen the objectivity and credibility of the remuneration, as well as the bonus system for the FPI executive and staff, in-line with best practice models.
Nominations and Compliance Review Committee
The Nomination and Compliance Review Committee was formed to assist the Board, in an advisory capacity, with regard to the recruitment selection and appointment of directors and sub committees in a formal transparent manner, making sure that sufficient consideration is given to board succession planning.
The committee is also given the responsibility to review compliance with relevant legislation, the principles of good corporate governance and best practice codes.
Social Responsibility and Ethics Committee
The Social Responsibility and Ethics Committee monitors the Company’s activities with regards to social and economic development, good corporate citizenship, environment, health and public safety, consumer relationships, and labour and employment. practice models.