Audit Governance and Independence

As part of ASG’s commitment to safeguarding integrity in financial reporting, procedures have been put in place to ensure the independence and effectiveness of the external auditor. This applies particularly to the production of half-yearly and annual reports to shareholders and to the ASX.

In addition, the Audit and Risk Committee reviews the nomination and performance of the auditor. The external auditor regularly meets with members of the Audit and Risk Committee. The Audit and Risk Committee intends, for each financial reporting period, to have the external auditor meet at least twice per annum with the Audit Committee without management being present.

The external auditor will also be provided with the opportunity [at their request] to meet with the Board of directors without management being present.

The external auditors were appointed on 1st June 2003. The lead external audit engagement partner was appointed as the audit partner when the Company was listed on ASX on 1st July 2003 and was rotated off the engagement prior to the commencement of FY 2008; the lead external audit engagement partner was then rotated back on prior to the commencement of FY 2010. The Rotation of the audit partner has again occurred for the year ended 30 June 2015. The external auditors attend and are available to answer questions at the company’s annual general meetings.