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A
N N U A L
R
E P O R T
2 0 1 5
A
ud i t
C
ommi t tee
R
epo r t
v. Be able to obtain independent / external
professional or other advice and to secure
the attendance of outsiders with relevant
experience and expertise if it considers this
necessary; and
vi. Be able to convene meetings with the external
auditors, the internal auditors or both
excluding the attendance of the executive
members of the Company, whenever deemed
necessary.
•
Duties & Functions
e Audit Committee shall review and report to
the Board on the following key matters:
i. To review the appointment, resignation,
conduct and audit plans of the Internal and
External Auditors;
ii. To review the assistance given by the
employees of the Company to the external
auditors and the internal auditors;
iii. To review the quarterly results and year end
nancial statements, prior to the approval by
the Board;
iv. To review any related party transactions and
conict of interest situations that may arise
within the Company or Group including
any transaction, procedure or course of
conduct that raises questions of management
integrity;
v. To review and report to the board of the
state of the systems of internal control of the
Group.
vi. To review the adequacy of the scope,
functions, competency and resources of the
internal audit function, and the internal audit
programme and results of the internal audit
process to ensure that appropriate actions
are taken on the recommendations of the
internal audit function.
•
Meetings
i.
e Committee shall meet at least four
(4) times in a year or more frequently as
circumstances required with due notice of
issues to be discussed and shall record its
conclusions in discharging its duties and
responsibilities.
ii.
e quorumof themeeting is two (2) who shall
be Independent Non-Executive Directors.
iii. Upon the request of any member of the
Committee, the external auditors or the
internal auditors, the Chairman of the
Committee shall convene a meeting of the
Committee to consider matters which should
be brought to the attention of the directors or
shareholders.
iv.
e external auditors and internal auditors
have the right to appear and be heard at any
meeting of the Committee and shall appear
before the Committee when required to do so
by the Committee.
v. e Committee may invite any Board
member or any member of management
or any employee of the Company who the
Committee thinks t to attend its meetings to
assist and to provide pertinent information
as necessary.
vi.
e Company must ensure that other
directors and employees attend any particular
Audit Committee meeting only at the Audit
Committee’s invitation, speci c to the
relevant meeting.
•
Secretary
e Company Secretary or other appropriate
senior oªcial shall be the Secretary to the Audit
Committee.
3. AUDIT COMMITTEE MEETINGS
ATTENDANCE
During the nancial year, the Audit Committee
conducted ve (5) meetings and these meetings
were attended by all members.
