Audit Committee reporting to the Supervisory Council of the Company is an independent entity aimed at:
- participating in the decision-making process on matters related to the Company;
- improving communication and cooperation between the owners, Supervisory Council, Management Board and the internal and external auditors of the Company;
- helping to make the internal audit system more effective;
- ensuring the transparency of financial reporting.
The Committee undertakes to monitor and analyse:
- the processing of financial information;
- the efficiency of risk management and internal controls;
- the process of auditing of annual accounts or consolidated accounts;
- the independence of an audit firm and a sworn auditor representing a company of auditors on the basis of law and compliance of the activities thereof with the other requirements of law.
Audit Committee members are:
Allar Jõks was elected as the independent member of the Supervisory Council at the AGM of 21.05.2013. Mr Jõks is an attorney-at-law and partner at the law firm Sorainen. Previously, he has worked as a judge at the County Court and District Court, as well as been the Legal Chancellor of the Republic of Estonia. Mr Jõks has the BA and MA in Law from the University of Tartu. Mr Jõks is an acknowledged expert in constitutional and administrative law.
Simon Roger Gardiner
Nominated by the United Utilities Group and elected at the AGM of 14.12.2010. Mr. Gardiner is the Head of Legal Department of United Utilities Group PLC. He was previously the Group Legal Manager at United Utilities Group PLC and an Associate at Law Office Osborne Clarke Solicitors in 1994-1999. Mr Gardiner is a solicitor as of 1996.
Brendan Francis Murphy
Appointed by the United Utilities Group to the Supervisory Council of AS Tallinna Vesi on 27.10.2011. Mr Murphy is the Head of Treasury at United Utilities Group PLC, responsible for managing all aspects of the group’s treasury activities. As an experienced treasury professional he has strong technical skills across all aspects of treasury activities including: financing and capital structure strategies; extensive knowledge of debt capital markets; management of corporate financial risks and associated hedging; transaction execution management; and financial analysis skills. Mr Murphy qualified as an Associate of the Chartered Institute of Bankers in England and Wales with Barclays prior to joining the United Utilities, and is a qualified member of the Association of Corporate Treasurers.