The three main subcommittees are: Audit committee, Remuneration committee and Nomination Committee. In your answer, please outline the structure and function of each of these committees. I have added the answer to the question but pleasee dont copy, write in your own words using this as reference. PLEASE DO NOT COPY FROM ANY WEBSITES.

a) For a UK public listed company, what are the main subcommittees of the board and what role does each of these subcommittees play? (15 marks) Audit committee The most important sub-committee is the audit committee. It is composed of at least three, or in the case of smaller companies, two, independent non-executive directors.... The board should satisfy itself that at least one member of the audit committee has recent and relevant financial experience (para C.3.1, Code 2014). Their role is to ensure fair and accurate financial report and internal control; review the scope and outcome of the audit; ensure objectivity of auditor; provides a bridge between audit (internal and external) and the board; provide shareholders information on how they carried out their responsibilities. Remuneration committee Code (2014) states the board should establish a remuneration committee of at least three, or in the case of smaller companies two, independent non-executive directors. Their role is to make recommendations to the board on framework of executive remuneration and cost including pensions and other compensation; provide transparent procedure of setting remuneration; determine targets for performance related pay; to design remuneration in the long-term success of company and allow for claw-back. - Nomination Committee Code (2014) recommends a 'majority of members of the nomination committee should be independent non-executive directors'. The role of the nominations committee is to plan and implement a formal, rigorous, and transparent procedure for the appointment of new directors to the board. This committee leads the process for board appointments and makes recommendations to the board. They evaluate the existing balance of skills, knowledge, and experience, use this to appoint new directors, assess performance of the board and be involved in succession planning