Dagang NeXchange Berhad Annual Report 2018

72 Dagang NeXchange Berhad Annual Report 2018 The Audit Committee is pleased to present its report for the financial year ended 31 December 2018. 1. COMPOSITION ANDMEMBERSHIP The Audit Committee during the financial year ended 31 December 2018 comprised of two (2) Independent Non- Executive Directors and one (1) Non-Independent Non- Executive Director as follows:- Chairman : Rosli Abdullah Senior Independent Non-Executive Director (member of the Malaysian Institute of Accountants) Members : Norlila Hassan Independent Non-Executive Director Ang Hsin Hsien Non-Independent Non-Executive Director The composition of the Audit Committee complies with Paragraph 15.09 of the Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”) and the Terms of Reference of the Audit Committee. 2. MEETINGS AND ATTENDANCE There were four (4) meetings held during the financial year 2018. The details of attendance of each member at the Audit Committee Meetings are as follows:- Attendance Rosli Abdullah 4/4 Norlila Hassan 4/4 Ang Hsin Hsien 4/4 3. AUTHORITY In carrying out its duties and responsibilities, the Audit Committee is vested with the following authority:- (i) Explicit authority to investigate any matter within its Terms of Reference. (ii) Equipped with resources required to perform its duties. (iii) Have full, free and unrestricted access to any information, records, personnel and properties of the Company and any other companies in the Group. (iv) Have direct communication channels with the external auditors and persons carrying out the internal audit function or activity. Head of Internal Audit should report directly to the Audit Committee. (v) Obtain external professional advice and secure the attendance of outside parties with relevant experience and expertise, if deemed necessary. (vi) Convene meetings with external auditors, internal auditors or both without the presence of the Management, whenever deemed necessary. AUDIT COMMITTEE REPORT