Annual Report and Accounts 2016

Reports of the Board's Committees

THE AUDIT COMMITTEE REPORT

The principal responsibilities of the Audit Committee are focused firstly on the appropriateness of the Group’s financial reporting, including the accounting judgements made in preparing reporting, secondly the ongoing effectiveness of the internal control environment and thirdly the risk management processes across the Group, including challenging and testing the Group’s risk appetite. Monitoring and reviewing the effectiveness of the external auditor and the internal audit function is an important element of the Committee’s assurance activities. These responsibilities are discharged throughout the year in accordance with the calendar of business of the Committee, which is designed to allow sufficient time for their consideration whilst also permitting time to be spent on related key financial matters.

Download the Audit Committe report (PDF)


THE SUSTAINABILITY COMMITTEE REPORT

Sustainability remains an integral part of Pennon’s strategy, and the Group continues to take this responsibility very seriously in all its business and operational practices. Our investment and our commitment to high levels of service and performance will contribute to meeting our communities’ long-term needs – for water, energy and waste management.

The role of the Sustainability Committee is to bring together and review initiatives that drive sustainability, to approve targets and to monitor the progress made in achieving Pennon’s strategic sustainability objectives.

Download the Sustainability Committee report (PDF)


THE NOMINATION COMMITTEE REPORT

The Nomination Committee meets in accordance with an annual calendar to consider succession planning, equality and diversity reports and periodically as necessary to manage the Board appointment process and recommend to the Board suitable candidates for Board appointments in the Group.

It is the practice of the Committee, led by the Chairman, to appoint an external search consultancy to assist in Board appointments to ensure that an extensive and robust search can be made for suitable candidates.

Download the Nomination Commitee report (PDF)


THE REMUNERATION COMMITTEE REPORT

The Committee meets in accordance with an annual calendar to consider remuneration matters in respect of the Group and in particular is responsible for:

  • ensuring remuneration is aligned with and supports the Group’s strategy, reflects our values as a Group and optimises performance
  • maintaining and reviewing the remuneration policy to ensure it remains appropriate to attract and retain high calibre people who are able to contribute to the success of the Group
  • advising the Board on the framework of executive remuneration for the Group
  • determining the remuneration and terms of engagement of the Chairman, the Executive Directors and senior management of the Group
Download the Remuneration Committee report (PDF)
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