Frontken Berhad Annual Report 2017

34 Frontken Corporation Berhad (651020-T) ANNUAL REPORT 2017 A. COMPOSITION AND ATTENDANCE Pursuant to Paragraph 15.09(1) of the Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”), the Company has established an Audit Committee (the “Committee”), comprising the following members who are all Independent Non-Executive Directors: Name Position Dato’ Haji Johar bin Murat @ Murad Chairman of Committee Aaron Sim Kwee Lein Member Dr Jorg Helmut Hohnloser Member The Board shall appoint the members of the Committee from amongst its Directors who fulfils the following requirements: (a) the Committee must be composed of not fewer than three (3) members; (b) all the Committee members must be Non-Executive Directors, with a majority of them being Independent Non- Executive Directors; and (c) at least one (1) member of the Committee: (i) must be a member of the Malaysian Institute of Accountants; (ii) if he is not a member of the Malaysian Institute of Accountants, he must have at least three (3) years’ working experience and: (aa) he must have passed the examinations specified in Part I of the First Schedule of the Accountants Act 1967; or (bb) he must be a member of one of the associations of accountants specified in Part II of the First Schedule of the Accountants Act 1967; or (iii) fulfils such other requirements as prescribed or approved by Bursa Securities. The Board, through the Nomination Committee, assesses the performance of the Committee in terms of its effectiveness and contribution of Committee members on an annual basis to determine whether the Committee and its members have carried out their duties in accordance with their terms of reference. The meeting attendance of the Committee members is provided in the Corporate Governance Overview Statement in this Annual Report. B. MEETINGS There were five (5) meetings held during the financial year under review. The Committee met with the External Auditors privately without the presence of the Executive Directors and Management twice during the financial year. At these private sessions, the Committee enquired into the co-operation extended by Management in the course of the audit, including the supply of information to facilitate the conduct of the external audit and whether the External Auditors encountered any difficulty in obtaining such co-operation and information for the purpose of the external audit. Meetings of the Committee are planned ahead so that the members can make the necessary arrangement to attend the meetings. The notice for the meetings is served at least one (1) week before each meeting and the meeting papers are sent to each member to provide them time to read, including an opportunity for the members to inquire into the agenda items as well as to seek more information before the meeting. At each Board meeting, the Committee Chairman briefs the Board pertaining to matters discussed at the Committee meeting held earlier. A copy of the minutes of the Committee meeting is circulated to the Board for notation. C. ROLES AND RESPONSIBILITIES In compliance with the Listing Requirements of Bursa Securities, the roles and responsibilities of the Audit Committee, which remained unchanged during the financial year under review, are uploaded on the Company’s website at www. frontken.com. Audit Committee Report