The Audit Committee’s primary objective is to assist the Board in fulfilling its responsibilities: in dealing with issues of risk, control and governance; and review the financial reporting processes, financial policies and internal control structure. Although the Audit Committee is set up at the level of the Company its main tasks are also related to the activities of the Group.

The Board has set formal terms of establishment and the terms of reference of the Audit Committee that establish its composition, role and function, the parameters of its remit as well as the basis for the processes that it is required to comply with. The Audit Committee is a sub-committee of the Board and is directly responsible and accountable to the Board.

Furthermore, the Audit Committee has the role and function of scrutinising and evaluating any proposed transaction to be entered into by the Company and a related party, to ensure that the execution of any such transaction is at arm’s length and on a commercial basis and ultimately in the best interests of the Company.

The Audit Committee is composed of 3 members. Mr. Charles Scerri and Mr. Benjamin Muscat are non-executive Directors and qualified accountants, who the Board considers as independent and competent in accounting.

Mr Richard J Saliba – Chairman of the Audit Committee and Independent Non-Executive Director

Mr Richard J Saliba holds a B.A. (Hons) in Accountancy from the University of Malta and brings more than 30 years of experience as a certified public accountant and auditor. He established his own practice in 1993, having previously served as an Audit Manager at a leading local Audit Firm.

Mr Charles Scerri – Chairman of the Board and Independent Non-Executive Director

Charles Scerri is a Certified Public Accountant by profession (Fellow of the Institute of Accountants) with a long career in finance and management at senior executive positions. He has worked in various industry sectors including banking and finance, auditing, leisure and hospitality. In 1995 he set up his own accountancy and audit practice, Charles Scerri & Associates, with the firm currently employing more than 45 employees and being the exclusive representative of IAPA in Malta. Charles also sits as an independent director on various boards.

Mr Patrick Hall – Independent Non-Executive Director

Mr Patrick Hall holds a Degree in Business Administration from Henley Business School in the United Kingdom and is the founder of a firm offering advisory and business services to local and international clients. Mr Hall also serves as a business administrator for a cloud and data center services company and has been appointed as a system analyst for a collaborative project with a university to develop an innovative conversational AI platform. Mr Hall is also the co-founder of multiple successful restaurant and cafeteria ventures.

Free Delivery when spending €70 or more.