Dagang NeXchange Berhad Annual Report 2019

DAGANG NeXCHANGE BERHAD 74 AUDIT COMMITTEE REPORT The Audit Committee is pleased to present its report for the financial year ended 31 December 2019. 1. COMPOSITION AND ATTENDANCE There were changes in the composition of the Audit Committee during the financial year ended 31 December 2019 as follows:- (i) Datuk Johar Che Mat, an Independent Non-Executive Director was appointed as a member of the Audit Committee on 23 August 2019; and (ii) Puan Norlila Hassan ceased to be a member of the Audit Committee upon her resignation as Independent Non-Executive Director of the Company effective 31 December 2019. There were four (4) meetings held during the financial year 2019. The Audit Committee members and details of attendance of each member at the Audit Committee meetings held during the financial year ended 31 December 2019 are as follows:- Name Designation Directorate Attendance Rosli Abdullah Chairman Senior Independent Non-Executive Director 4/4 (Member of the Malaysian Institute of Accountants) Norlila Hassan Member Independent Non-Executive Director 4/4 Ang Hsin Hsien Member Non-Independent Non-Executive Director 4/4 Datuk Johar Che Mat Member Independent Non-Executive Director 1/1 The composition of the Audit Committee complies with paragraph 15.09 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad and the Terms of Reference of the Audit Committee. 2. 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 DNeX 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.