Audit Committee Charter

The Charter of the audit committee is to:

1. Review the annual, half year and concise (if any) financial reports and other financial information distributed externally, including new accounting policies to ensure compliance with International Accounting Standards and generally accepted accounting principles.
2. Monitor corporate risk assessment processes.
3. Consider whether non-audit services provided by the external auditor are consistent with maintaining the external auditor’s independence. The external auditor is to provide an annual declaration of independence.
4. Review the nomination and performance of the external auditor.
5. Monitor the establishment of appropriate ethical standards.
6. Monitor the procedures to ensure compliance with the Corporation Act 2001 and the ASX Listing Rules and all other regulatory requirements.
7. Address any matters outstanding with the auditors, Australian Taxation Office, Australian Securities and Investments Commission, Australian Stock Exchange and financial institutions.
8. Review drafts, recommend board approval of, and finalise financial reports.
9. Review the results and findings of the auditor, the adequacy of accounting and financial controls and to monitor the implementation of any recommendations made.
10. Organise, review and report as required on any special reviews or investigations deemed necessary by the board.