The board is responsible to shareholders for the management of the company and for the protection of its assets. As such, it is ultimately responsible for implementing Amec Foster Wheeler’s systems of internal control and for reviewing their effectiveness. These systems are designed to manage, rather than eliminate, the risk of failure to achieve business objectives and consequently can provide reasonable, but not absolute, assurance against material mis-statement or loss.
The board, through its committees and at its regular meetings, has a continuous process for identifying, evaluating and managing significant risks faced by Amec Foster Wheeler, including strategy, major projects to be undertaken, significant acquisitions and disposals, as well as entry to and exit from different markets. Where appropriate, business decisions are reached following a structured and documented review of potential opportunities and threats, taking steps designed to manage or mitigate any residual risk exposure.
Terms of reference for each committee can be found here
Articles of association