Composition of the Audit Committee

Since April 2nd, 2013

Name Term Expires Role Status
Herman-Josef Lamberti 2016 Chairman Independent
Anne Lauvergeon 2016 Member Independent
Michel Pébereau 2016 Member Independent
Josep Piqué i Camps 2016 Member Independent

 

The Audit Committee – composed of four Board members - makes recommendations to the Board of Directors on the approval of the annual financial statements and the quarterly and half-year accounts. It also supports de Board of Directors in the appointment of external auditors and the determination of their remuneration. Moreover, the Audit Committee has the responsibility for ensuring that the internal and external audit activities are correctly directed and that audit matters are given due importance at meetings of the Board of Directors. Thus, it discusses with the auditors their audit programme and the results of the audit of the accounts and it monitors the adequacy of the Group’s internal controls, accounting policies and financial reporting. It also oversees the operation of the Group’s ERM system and the Compliance Organisation. The rules and responsibilities of the Audit Committee have been set out in the Audit Committee Charter.

The Chairman of the Board of Directors and the Chief Executive Officer are invited as guests to each meeting of the Committee. The Chief Financial Officer and the Head of Accounting are requested to attend meetings of the Audit Committee to defend management proposals and to answer questions.

The Audit Committee is required to meet at least four times a year. In 2012 it fully performed all of its duties, and met five times, with an 85% average attendance rate.

Responsibilities of the Audit Committee as stated in the Internal Rules of the Board of Directors

  • to make recommendations to the Board on the appointment of the EADS Group’s auditors and the determination of their remuneration;
  • to discuss with the auditors their audit programme and the results of their audit of the accounts;
  • to make recommendations to the Board regarding the approval of the annual financial statements and the interim accounts; and
  • to monitor the adequacy of the EADS Group’s internal controls, accounting policies and financial reporting.