Three Board Committees exist:
The Audit Committee makes recommendations on the approval of the annual financial statements and the quarterly and half-year accounts, supports the Board in the appointment of external auditors and ensures that audit activities are correctly directed.
The Remuneration, Nomination and Governance Committee makes recommendations to the Board for major appointments within the Company, for example in the Executive Committee, for remuneration strategies and long-term remuneration plans and also performs regular evaluations of the Company′s corporate governance.
The Ethics and Compliance Committee assists the Board in overseeing Airbus’ culture and commitment to ethical business and integrity. It oversees the Company's ethics and compliance programme, organisation and framework for the effective governance of ethics and compliance, including all associated internal policies, procedures and controls.
Pursuant to the Board Rules, the Ethics and Compliance Committee is required to meet at least four times a year and has as its main mission to assist the Board in overseeing Airbus’ culture and commitment to ethical business and integrity.
It also monitors Airbus’ ethics and compliance programme, organisation and framework for the effective governance of ethics and compliance, including all associated internal policies, procedures and controls, which include the areas of money laundering and terrorist financing, fraud, bribery and corruption, trade sanctions and export control, data privacy, procurement and supply chain compliance and anti-competitive practices.
In addition, the Board can, on a case-by-case basis, delegate to the Ethics and Compliance Committee any task which is ethics-and-compliance related.
The Ethics and Compliance Committee will, among others, monitor any of the aforementioned responsibilities of the Audit Committee that are regarding compliance-related matters and will also provide any necessary disclosures of the status of major investigations into ethical or compliance breaches or allegations of misconduct – especially financial and accounting-related – ?to the Audit Committee.
From time to time, independent external experts and the Independent Compliance Review Panel are invited to attend meetings of the Ethics and Compliance Committee.