National Catering Company is committed to standards of corporate governance that are in line with international best practice. Although, still a limited liability company, the company aims to comply with requirements applicable to joint stock companies.
The mandate of the Executive Committee is to ensure that all aspects of the development of the Company are carried out in accordance with the objectives as authorized and directed by the Board of Directors.The executive committee meets on a monthly basis to discuss various aspects of the business.
The Audit Committee meets 4 times a year and assist the Board of Directors in discharging its responsibilities with regards to financial reporting, external and internal audits and controls, including reviewing and monitoring the integrity of the annual and interim financial statements. The Audit Committee also oversees and advises on the appointment of external auditors, reviews the effectiveness of the external audit process, and reviews the effectiveness of our internal control review function. The Audit Committee has taken appropriate steps to ensure that the Company’s auditors are independent of the Company.
The Nomination and Remuneration Committee meets no less than 2 twice a year and assist our Board in discharging its responsibilities relating to the composition and make-up of the Board of Directors. It is responsible for evaluating the balance of skills, knowledge and experience and the size, structure and composition of the Board and committees of the Board. In addition, the Nomination and Remuneration Committee assists the Board in determining its responsibilities in relation to remuneration, including making recommendations to the Board on the Company’s policy on executive remuneration, and determining the individual remuneration and benefits package of each of the Company’s Executive Directors and Senior Management.