All members of the Audit Committee were deemed independent by the Board in accordance with the criteria contained in the Afep-Medef Code. In addition to assessing the independence, the Board of Directors reviewed the qualifications of all Audit Committee members in terms of their financial expertise and business experience and believes all members have the requisite expertise, experience and qualifications to fulfil their assignments as Audit Committee members.
The scope of the Audit Committee's responsibilities is set out in its Terms of Reference, which are reviewed and approved each year by the Board of Directors.
The Audit Committee assists the oversight of the:
The Committee oversees the process for selecting the Statutory Auditors, making recommendations and controlling their appointment and replacement.
The Committee also examines the compliance with the risk appetite limits.
The Committee examines and issues an opinion on the documents prepared under the Solvency II regulations.