Dangote Cement Plc Annual Report 2021
Board Audit, Risk and Compliance Committee report
Ernest Ebi MFR
Independent Non-Executive Director
Role of the Committee
Members
Meetings attended
(eligible to attend)
Ernest Ebi (Chairman)
Sani Dangote
Dorothy Udeme Ufot
Emmanuel Ikazoboh
Cherie Blair
Attended
Not attended
Medical absence
Not a member as at date
Introduction
I am pleased to present to you the 2021 report of the Board
Audit, Compliance and Risk Management Committee. The Board
is ultimately accountable for the risk management process,
system of internal control and monitoring compliance with
applicable laws and regulations. These functions have been
delegated to the Audit, Compliance and Risk Management
Committee, in accordance with the Company's Corporate
Governance Framework.
Roles and responsibilities
The Committee has oversight over the Audit, Compliance and
Risk Management functions and assists the Board in fulfilling its
oversight responsibilities regarding:
.
•
•
oversight of the Group Internal Audit function and ensuring
cooperation between statutory auditors and the Group Internal
Audit function;
oversight of the execution of risk management framework;
review of legal matters that could have significant impact on
the Company's operations;
oversight of the Company's compliance and ethics
programme; and
monitoring of the whistleblowing mechanism.
Activities during the year
The reports of the Committee are presented to the Board,
providing the Board with summaries of discussions as well as
its recommendations. During the year, the Committee carried
out the following:
.
review of risk management reports on risk exposures;
monitoring of the Company's compliance with applicable laws
and standards;
review of the Internal Audit Plan and internal audit reports; and
provision of recommendations to the Board on various audit,
compliance and risk matters.
Composition and attendance
As an Independent Non-Executive Director, I serve as the
Chairman of the Committee. Some members of our Senior and
Executive Management teams were invited to meetings to provide
information on directives given by the Committee. The Committee
met 4 times in 2021 and its composition and attendance are stated
on page 187, while details of each Committee member are set out
on pages 70 to 72.
Emest like
Ernest Ebi MFR
Chairman of the Audit, Compliance
and Risk Management Committee
1st March 2022
86
Dangote Cement Plc Annual Report 2021View entire presentation