Corporate Governance
The Audit Committee also held private meetings on a regular basis with the external auditors, the Head of Group Internal Audit, the Group Risk Director, the Group Finance Director and other key members of senior management as part of the Committee’s work on the effectiveness of the Group’s risk management policies and procedures. The Group Risk Director and the Head of Group Internal Audit also have the right of direct access to the Chairman of the Audit Committee. The Chairman of the Audit Committee reports on the activities and recommendations of the Audit Committee at the Board meeting subsequent to each Committee meeting.
John Ormerod
Age 59. John joined the Audit Committee of HBOS in 2005 and also serves on the Retail Risk Control Committee. John is neither an HBOS Director nor a Group employee. He is a Non-executive Director and member of the Audit Committee of ITV. He is also a Non-executive Director and Audit Committee Chairman of Computacenter, Gemalto and Misys (where he is also Senior Independent Director). John is a Chartered Accountant and previously held senior positions with Arthur Andersen and Deloitte.