The Audit and Risk Management Committee assists the Yancoal Australia Board in overseeing financial reporting, internal control structure, risk management systems and the internal and external audit functions.
The Committee has the necessary power and resources to meet its responsibilities under its charter, including rights of access to management and auditors (internal and external) and to seek explanations and additional information. It is intended that the Committee will meet at least four times per year, or as frequently as required.
ShineWing Australia has been appointed as the auditor for the Merged Group. The appointment, removal and remuneration (not including amounts paid for special or additional services provided by the auditor) of the auditor is subject to shareholder approval.