The Board also operates through three committees composed entirely of independent directors, the Audit Committee (Parkinson (Chair), Gillespie, Halmy, Muller and Sievwright), the Compensation Committee (Sievwright (Chair), Wilson and Parkinson) and the Nominating and Governance Committee (Wilson (Chair), Baruti, Gillespie, and Muller), all of which meet throughout the year as required. The Audit Committee plays an active role not only in overseeing the audit process and managing non-audit services to ensure the continued independence of the auditors, but also in addressing investment valuations, an area of key judgment for the business, and enterprise risk. The Compensation Committee reviews and approves compensation policy and the awards under the long-term incentive plan for all employees. The Nominating and Governance Committee reviews, and makes recommendations to the Board regarding, the composition of the Board and its committees and also oversees environmental, social and governance matters generally.