There are three sub-committees of the OGA board:
Audit and Risk Committee
The audit and risk committee supports the Accounting Officer and the board in providing oversight of the company’s financial reporting process, the audit process, the system of internal controls, identification and management of significant risks, and compliance with laws and regulations. The Committee provides assurance to the board and, when it is not satisfied with any aspect of the OGA’s internal controls and reporting, it reports its views to the Board.
The nomination committee is responsible for identifying and nominating, for the approval of the board, candidates to fill board vacancies as and when they arise. In identifying suitable candidates, the committee has regard to the UK Corporate Governance Code and corporate governance best practice. The committee considers and formulates plans for succession for both executive and non-executive directors.
The remuneration committee approves and oversees the OGA’s policies governing the terms and conditions of service, including performance, remuneration, pensions, allowances, early retirement and redundancy of all directors and employees of the OGA.