Our standing Committees
The NPA Standing Committees are appointed annually from the Board of Management of the Association.
Terms of reference for the Committees
Finance, Audit & Risk
The duties of the Committee shall be:
- to consider the appointment of the external financial auditor, the audit fee and any questions of resignation or dismissal.
- to discuss with the external financial auditors before the financial audit commences the nature and scope of the financial audit, and ensure co-ordination where more than one financial audit firm is involved.
- to review the half-year and annual financial statements before submission to the Board of Management, focusing particularly on:
- any changes in accounting policies and practices
- major judgmental areas
- significant adjustments resulting from the audit
- the ‘going concern’ assumption
- compliance with accounting standards.
- to discuss problems and reservations arising from the interim and final audits, and any matters the auditors may wish to discuss, in the absence of management where necessary
- to review the external auditors’ management letter and management’s response
- to review the Company’s statement on internal controls systems prior to endorsement by the Board of Management
- to consider the major findings of internal investigations and management’s response
- to review, scrutinise and recommend to the Board of Management the overall financial, property and investment strategies for the company and ensuring that performance is optimised in the context of the Group investment strategy.
The duties of the Committee shall be:
- to review, scrutinise and approve revenue and expenditure business cases and plans brought forward by other committees and executives, to ensure that proposals are affordable and consistent with the financial strategy and plans of the company within the limits set out in the Authorisation and Control policy.
- to review, scrutinise and recommend to the Board of Management revenue and expenditure business cases and plans brought forward by other committees and executives, to ensure that proposals are affordable and consistent with the financial strategy and plans of the company such activities that exceed the above limits.
- to identify the principal risks of the Association’s business, regularly review these risks and implement appropriate systems to manage those risks. Including but not limited to reputation, finance, market impact and member impact.
Policy and Practice
The duties of the Committee shall be to:
- establish and prioritise policy and representational activity within the UK, European Union and Internationally. Including but not limited to: to shape a regulatory and funding environment that supports our members to prosper through maintaining, establishing and developing productive relationships with external stakeholders, to shape other aspects of the environment within which our members operate and to maintain the Association’s position as a leading, credible, forceful voice for community pharmacy.
- consider all matters relating to the professional and business practice of community pharmacy, including proposed and potential legislation, and all matters relating to professional development, the future of community pharmacy practice and healthcare in general, and to make recommendations to the Board or such Committees as appropriate.
Nominations and Renumeration Committee
Members of the Nominations and Renumeration Committees are elected annually from the Board of Management.
- the nomination (or revocation) of the Chief Executive of the Association
- the nomination (or revocation) of the Directors of the subsidiaries and connected companies of the Association
- the application by the Association of corporate governance practices and the Board and Committees’ composition and functioning (including the Nominations and Remuneration Committee)
- the structure of the organisation
- the allocation of members of the Board of Management to the Committees
- the Committee shall develop and recommend to the Board for its approval, a formal process for reviewing and auditing the performance of the Board of Management, its Committees and of the Executive Managers and thereafter control such a process
- the remuneration (fixed and variable) to be paid to members of the Executive Management Team, including compensation and benefits of any kind (including pensions and termination benefits). The Committee notably reviews and defines the rules for determining the variable part of such compensation, ensures their coherence with the annual performance evaluation and the strategy of the Association, and thereafter controls the implementation of these rules
- be aware of and oversee any major changes in employee benefit structures throughout the Association.