Audit Committee & External Audit procedures
Calliden has a formally constituted Audit Committee. The Audit Committee is comprised only of non-executive directors, the majority of which are regarded as independent. The Audit Committee is comprised of three members of which one is an independent chairperson, all members are regarded as having the requisite technical expertise.
The Company’s Audit Committee has a formal charter (PDF 139kb) setting out the role and responsibilities, composition, structure and membership requirements.
The Audit Committee has responsibility for making recommendations to the Board in connection with the appointment and removal of the external auditor and for determining the terms of engagement of the external auditor.
External Audit procedures
Calliden’s auditor is KPMG. The audit engagement partner is rotated every five years, subject to the transition provisions contained within the recently implemented Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Act 2004 (CLERP 9).