Report of the Audit and Risk Committee

contains some inherent contradictions and difficulties, particularly in respect of the payment ofacademic support for Officers of the Society and the relationship of the Trustees to Council and theExecutive Committee. This was one of the items discussed at a meeting of the Audit and fuskCommittee in the absence of Officers and employees of the Society As a result of this discussionan ad hoc working group, the Governance Review Group, has been set up to examine thegoYernance ofthe Society and whether or not the recent re-organisation ofthe Society had resultedin the achievement of the aims and objectives set out by Maynard Case and his working parfy in2000. The members of this ad hoc working group are Stan White, Malcolm Hunter and myself,under the chairmanship of Richard Boyd, who was a member of the Committee of thePhysiological Society during the period leading up to the change in the structure and governance ofthe Society. This group is due to report to the Audit and Risk Committee and the ExecutiveCommittee in early 2005.

Michael J RennieChairman

David Sewell

Executive Secretary(Society contact)