Corporate governance

Introduction

The Board is responsible for providing Coal & Allied with good governance and strategic direction.  All Directors have full and timely access to information they require to discharge their duties and responsibilities fully and effectively.  The Directors have established Board committees which are fundamental to good corporate governance, best practice and control.  These are the Audit Committee, the HSE Committee and the Independent Directors Committee.

The Directors also monitor compliance with policies prescribed by the Board in areas such as health and safety, environment, business ethics, internal control and risk management. These policies are designed to ensure that Coal & Allied meets or exceeds the regulatory requirements governing its operations.

For further information in relation to the role of the Board refer to the Board Charter.

Audit Committee

The Audit committee's main responsibilities include:

• reviewing accounting principles, policies and practices adopted in the preparation of public financial information;
• reviewing with management, procedures relating to financial and capital expenditure controls;
• reviewing with external auditors, the scope and results of their audit;
• nomination of auditors for appointment by shareholders; and
• reviewing Coal & Allied's risk management policy.

The Audit Committee also selects and appoints external auditors, and oversees the rotation of external audit and engagement partners as appropriate.

For further information in relation to the role of the Audit Committee refer to the Audit Committee Charter.

HSE Committee

The role of the Health, Safety and Environment (HSE) Committee is to monitor and review that Coal & Allied has in place the policies, control systems, reporting structures and people required to meet the company's health, safety and environmental commitments.

Independent Directors Committee

The Independent Directors Committee was established to assist the Board in determining any proposals by Management that the Board considers must be negotiated on an arm's length basis under the supervision of a committee of those Directors who do not have an association with the Coal & Allied's significant shareholders.

For further information in relation to the role of the Independent Directors Committee refer to the Independent Directors Committee Charter.