Picton Property Income Limited Annual Report 2021

Governance Audit and Risk Committee Report Audit andRiskCommittee

Terms of reference The Committee’s terms of reference include consideration of the following issues: ӱ Financial reporting, including significant accounting judgements and accounting policies; ӱ Development of a comprehensive Risk Management Policy for the adoption by the Group; ӱ Evaluation of the Group’s risk profile and risk appetite, and whether these are aligned with its investment objectives; ӱ Ensuring that key risks are being effectively identified, measured, managed, mitigated and reported; ӱ Internal controls, controls testing and risk management systems; ӱ The Group’s relationship with the external auditor, including effectiveness and independence; ӱ Internal audit; and ӱ Reporting responsibilities.

Mark Batten Chair of the Audit and Risk Committee

The Audit and Risk Committee is chaired by Mark Batten. The other members of the Committee are Richard Jones andMaria Bentley.

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The Committee has developed a

comprehensive Risk Management Policy which has been adopted by the Group. Mark Batten Chair of the Audit and Risk Committee

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