Chairman Members Secretaries • YBhg Dato’ Sekhar Krishnan Independent Non-Executive Director • YBhg Dato’ Halipah Esa Independent Non-Executive Director • Zawardi Salleh Joint BAC Secretary • YBhg Dato’ Kalsom Abd. Rahman Independent Non-Executive Director • Sa’adiah Mohd Salleh Joint BAC Secretary • Lim Beng Choon Independent Non-Executive Director The Board Audit Committee (“BAC”) of MISC Berhad (“MISC” or “the Company”) was established with the objective of assisting the Board of Directors (“the Board”) in fulfilling its responsibilities primarily relating to financial management, financial accounting, risk management framework and process and systems of internal control of the Group. MEMBERSHIP The BAC comprises 4 members, all of whom are Independent Non-Executive Directors of the Company. The Chairman of the BAC, YBhg Dato’ Sekhar Krishnan, is a member of the Malaysian Institute of Accountants and the Malaysian Institute of Certified Public Accountants. The composition of the BAC and qualifications of its members comply with Paragraph 15.09(1) of the Main Market Listing Requirements (“MMLR”) of Bursa Securities Malaysia Berhad (“Bursa Securities”). The BAC had 5 meetings in the financial year ended 31 December 2016. Records of attendance of the Members are as follows:- Member Designation Number of Meetings Attended YBhg Dato’ Sekhar Krishnan Chairman/Independent Non-Executive Director 5 out of 5 YBhg Dato’ Halipah Binti Esa Independent Non-Executive Director 5 out of 5 YBhg Dato’ Kalsom Binti Abd. Rahman Independent Non-Executive Director 5 out of 5 Mr. Lim Beng Choon Independent Non-Executive Director 4 out of 5 TERMS OF REFERENCE (ToR) The BAC is governed by its ToR which was drawn according to the requirements of the MMLR and Malaysian Code on Corporate Governance 2012 (“the Code”). The ToR of the BAC is available on the Company’s website at www.misc.com.my SUMMARY OF ACTIVITIES The meetings of the BAC and their tentative agendas are scheduled in advance of any new financial year to facilitate the BAC members to plan ahead and fit the year’s meetings into their schedules. The BAC meets every quarter to review and deliberate the quarterly and annual financial statements, the Enterprise Risk Management report, Group Internal Audit (“GIA”) reports, related party transaction matters and other relevant matters within the BAC’s terms of reference. Additional meetings are held as and when required. MISC BERHAD • Annual Report 2016 148 BOARD AUDIT COMMITTEE REPORT
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