PRG Holdings Berhad Annual Report 2018

2018 A N N U A L R E P O R T 52 COMPOSITION OF THE AUDIT COMMITTEE The Audit Committee consists of three (3) members, all of whom are Independent Non-Executive Directors. The Chairman of the Audit Committee is a member of the Malaysian Institute of Accountants. The composition of the Audit Committee is as follows: Directors Position Lim Chee Hoong Chairman of Audit Committee & Independent Non-Executive Director Datuk Dr. Wong Lai Sum Independent Non-Executive Director Dato’ Dr. Awang Adek bin Hussin Independent Non-Executive Director (Appointed on 26 February 2019) Dato’ Hamzah bin Mohd Salleh Independent Non-Executive Director (Resigned on 27 December 2018) The Terms of Reference of the Audit Committee is available on the Company’s Website. MEETINGS AND ATTENDANCE The Audit Committee held a total of five (5) meetings during the financial year ended 31 December 2018 with full attendance recorded by the members of the Audit Committee and the Company Secretary. Details of attendance are as follows: Directors Attendance Lim Chee Hoong 5 out of 5 Datuk Dr. Wong Lai Sum 5 out of 5 Dato’ Hamzah bin Mohd Salleh 5 out of 5 (Resigned on 27 December 2018) Dato’ Dr. Awang Adek bin Hussin Not applicable (Appointed on 26 February 2019) MERGER OF AUDIT COMMITTEE AND RISK MANAGEMENT COMMITTEE On 26 February 2019, the Board resolved to combine the existing Audit Committee and Risk Management Committee and renamed the Committee as “Audit and Risk Management Committee” in order to enhance the efficiency of the Board Committee in discharging its duties and responsibilities. ACTIVITIES OF THE AUDIT COMMITTEE During the financial year ended 31 December 2018, the activities carried out by the Audit Committee in the discharge of its duties included, among others, the following: (i) Financial Reporting • Reviewed the unaudited quarterly financial results and audited financial statements before recommending to the Board for consideration and approval for release to Bursa Securities. • Reviewed major audit findings and management’s responses with Management, External Auditors and Internal Auditors. REPORT  OF THE AUDIT COMMITTEE