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NRC also considers strategic human resources matters such as progress on the recruitment and training of Qatari nationals.
At each meeting in 2015 the NRC received a general update on Human Resources matters including nationalisation efforts, organisational development, headcount, turnover, contract renewals of senior management, succession planning, promotions, internships and secondments.
All matters of significant discussion were reported to the Board, which also received the minutes of all NRC meetings.
Board Internal Evaluation
In 2015 the Board continued
its practice of undertaking a self-assessment exercise, the purpose of which is to review Board practices and to find
ways to improve efficiency and effectiveness. The results of the 2015 assessment were discussed at the first Board meeting of 2016.
The ARC approved the yearly internal audit programme and followed its implementation through regular communication with the Head of Internal Audit. In 2015, the ARC met with
the external auditors of the Regulatory Authority on two occasions and oversaw the completion of the external audit concerning the Regulatory Authority’s financial statements. In accordance with best practice and to promote auditor independence, at the ARC’s recommendation the Regulatory Authority’s auditor was rotated after a five-year period. An introductory meeting with
the new auditor took place in December 2015.
All matters of significant discussion were reported to the Board, which also received the minutes of all ARC meetings.
It is the ARC’s view that the Regulatory Authority continues to apply appropriate policies and controls to its various business
areas and operations. The internal audit function and internal controls framework
are working as intended
and provide assurance that improvement opportunities are identified and addressed.
Nominations and Remuneration Committee
The Nominations and Remuneration Committee (NRC) comprises Mr Jean-François Lepetit (NRC Chairman) and
Dr Jeffrey Carmichael. The
NRC met four times in 2015. The Chief Executive Officer and the Managing Director Corporate Services attended all NRC meetings in 2015 by invitation and the Chief Administrative Officer and the Director of Human Resources attended the fourth NRC meeting of 2015.
The principal areas of focus for the NRC include considering and delivering recommendations
to the Board regarding policy
in relation to remuneration. The
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