Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 409

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 409
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 the other Board committees, can be found as part of the 'How we are governed' section on page 287 . Brendan Nelson Chair of the Group Audit Committee

| 294 | HSBC Holdings plcAnnual Report on Form 20-F |

Report of the Directors | Corporate governance report | Board committees

Committee governance The Committee operates under delegated authority from the Board, and advises the Board on matters concerning the Group’s financial reporting requirements. The Committee Chair reports on the key matters and discussions at the subsequent Board meeting, and the Board also receives copies of the Committee agendas and minutes. This supports the Board‘s oversight of the work carried out by management, Global Internal Audit and PricewaterhouseCoopers LLP (‘PwC‘), as the Group’s statutory auditor. The Nomination & Corporate Governance Committee has confirmed that each member of the Committee is independent according to the criteria of the US Securities and Exchange Commission, and the Committee and individual members continue to possess competence relevant to the banking and broader financial services sector in which the Group operates. The Board has determined that Brendan Nelson and Ann Godbehere are the audit committee ‘financial experts’ for the purposes of section 407 of the Sarbanes-Oxley Act and have recent and relevant financial experience for the purposes of the UK and Hong Kong Corporate Governance Codes. The Committee Chair continued to engage with various key stakeholders, including the UK PRA, to understand their views, key themes and areas of focus within the broader financial services sector on matters relevant to the work of the Committee. This included trilateral meetings involving the Group’s external auditor, PwC, and the UK PRA. Members of senior management routinely attended meetings of the GAC. The external auditor attended all meetings. The Chair holds regular meetings with management, Global Internal Audit and PwC, as the external auditor, to discuss relevant items as they arose during the year outside the formal Committee process. The Committee also regularly meets with the internal and external auditors, without management present. Private discussions are also held with relevant members of senior management, including the Group Chief Financial Officer and Group Chief Risk and Compliance Officer.

| Matters considered during 2024                                                                                                                                                                                                                                                                                                                        |     |     |     |     |     |     |     |     |
|                                                                                                                                                                                                                                                                                                                                                       | Jan | Feb | Apr | Jun | Jul | Sep | Oct | Dec |
| Reporting                                                                                                                                                                                                                                                                                                                                             |     |     |     |     |     |     |     |     |
| Financial reporting matters including:–review of financial