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65
Maxis Berhad
Annual Report 2014
Audit Committee
Report
As at 31 December 2014
The Board of Maxis is pleased to present the Audit Committee Report for the financial year ended 31 December 2014.
MEMBERS AND MEETINGS
The Audit Committee (“the Committee”) has five members, all of whom are Non-Executive Directors and a majority of whom are
independent, including the Chairman of the Committee.
All members of the Committee are financially literate and are able to read, analyse, interpret and understand financial statements in
order to effectively discharge their duties and responsibilities as members of the Committee. Robert William Boyle is a Fellow of the
Institute of Chartered Accountants in England and Wales meeting the requirement under the Main Market Listing Requirements of Bursa
Securities (“MMLR”) that an Audit Committee must have at least one qualified accountant as its member.
Details of the Committee members and the attendance of each member at Committee meetings during the financial year ended 31
December 2014 are set out below:
NAME
STATUS
INDEPENDENT
MEETINGS ATTENDED
Robert William Boyle, Chairman of the Committee
(Appointed as Chairman on 16 October 2009)
Non-Executive Director Yes
5 out of 5
Tan Sri Mokhzani bin Mahathir
(Appointed as Member on 16 October 2009)
Non-Executive Director Yes
5 out of 5
Hamidah Naziadin
(Appointed as Member on 1 February 2014)
Non-Executive Director Yes
5 out of 5
Krishnan Ravi Kumar
(Appointed as Member on 8 May 2014)
Non-Executive Director No
2 out of 3
Lim Ghee Keong
(Appointed as Member on 8 May 2014)
Non-Executive Director No
3 out of 3
During the financial year, the Committee conducted five meetings. The Group’s internal and external auditors and certain members of
Senior Management attended all the meetings.
The Committee also held two separate private sessions with internal auditors and external auditors respectively without the presence
of the Management.
Deliberations during the Committee meetings were minuted. Minutes of the meetings were circulated to all members of the Board and
significant issues were brought up and discussed at Board meetings.
SUMMARY OF ACTIVITIES OF THE COMMITTEE
The Chairman of the Committee reports regularly to the Board on the activities carried out by the Committee in the discharge of its
duties and responsibilities, as set out in its Terms of Reference which is available on Maxis’ website. During the financial year, the
Committee reviewed and updated its Terms of Reference to be in line with the Statement on Risk Management and Internal Controls
(Bursa Securities, 2013). The major activities undertaken by the Committee during the year are as follows:
