In addition it has oversight of financial investments. GrainCorp seeks to minimise the risk that arises through the Company’s activities in financial risk management. External auditors are appointed for a term of three years and are not automatically reinstated. The committee plays an active role in reviewing the adequacy of the existing arrangements, and is responsible for ensuring that the auditors have the necessary qualifications and skills and that the scope and quality of their audit is appropriate.  The committee makes recommendations to the Board in relation to the appointment of external auditors.  The Company’s Risk Management Committee specifically develops and oversees policy for all risk associated with grain marketing. The policies specify trading limits, approved risk management tools, delegations for authorising transactions and segregation of duties.  The committee comprises two non-executive Directors,  the Managing Director, the Chief Operating Officer and one external appointment. The Equity Committee comprises four non-executive Directors and is responsible for recommending to the Board matters pertaining to shareholders’ interest and  the capital structure of the company. The Capital Works Review Committee consists of four non-executive Directors and the Chief Operating Officer. The purpose of this committee is to review strategic operational issues, including utilisation of storage, future requirements, harvest performance, service standards  and overview of capital expenditure.  The Remuneration Committee comprises four non- executive Directors. The principal role of the committee  is to maintain a remuneration policy which ensures the remuneration package of senior executives properly reflects their duties and responsibilities. This includes ensuring that remuneration is competitive in attracting, retaining and motivating people of the highest quality  and aligns the interests of senior management with shareholders. The committee reviews and recommends to the Board, after reference to performance and published remuneration surveys and market information,  the remuneration of the Managing Director and other senior executives.  The committee also reviews the non-executive Directors’ remuneration arrangements and details are then submitted to the Board for their consideration and subsequently to a general meeting of GrainCorp Limited. In determining the level of fees, survey data on fees paid by comparable companies is considered together with changes in the level of responsibilities. The committee sets, reviews and monitors policy on all staff remuneration and other conditions of employment. The committee monitors a management succession plan. The OHS and E Committee is comprised of one non- executive Director, Chief Operating Officer, Company Secretary and Risk and Safety Manager. The principle  role of the Committee is to review and recommend to the Board proactive strategies for providing a safe and healthy workplace for all employees, growers, customers, contractors and local communities.  A monthly reporting system for compliance and performance against agreed performance objectives  is reviewed by the Board. 33 GrainCorp 2001 Annual Report Remuneration Committee Risk Management Committee Equity Committee Capital Works Review Committee Occupational Health, Safety and Environment Committee