26 Finsbury Food Group Annual Report & Accounts 2017


External Reporting


The Board delegates primary responsibility for the preparation of complete, balanced and accurate Financial Statements and disclosures, in accordance with Financial Reporting Standards and regulations, to the Finance Director. The responsibility of the Committee includes consideration of significant accounting policies, any changes in policies and significant estimates and judgements, taking into account the external auditor’s view, and to report back to the Board on any concerns that it might have. The Audit Committee reviews the clarity and completeness of disclosures within the Financial Statements. Ultimate responsibility for reviewing and approving the annual Financial Statements and half yearly reports remains with the Board.


The Committee also reviews related information presented with the Financial Statements, in particular the Strategic Report, the Directors’ Report and the Report on Corporate Governance.


Key Agenda Items In addition to matters referred to elsewhere in this Report, during the year, the Committee also considered:


• Revenue recognition • New business system introduction and compliance • Interest rate and currency hedging • Pension disclosures • Impairment reviews • Group insurance programme • Internal authorisation levels and procedures


If any reader of these accounts has suggestions for improvement in the content or the presentation of the Financial Statements, please can they let me know by writing to info@finsburyfoods.co.uk.


Raymond Duignan Chairman of the Audit Committee


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