Composition and Meetings The Audit Committee is appointed by the Board of Directors from amongst the Non-Executive Directors and comprise of four (4) members, majority of whom are Independent Non-Executive Directors. The Chairman of the Audit Committee, Ms. Hoon Shat Mei is a member of the Association of Chartered Certified Accountants (ACCA). The other members of the Audit Committee are Dato’ Lim Hong Shuan, Ms. Lee Pei Yee and En. Jeffrey bin Bosra. The Audit Committee meetings were structured through the use of agendas and relevant board papers which were distributed to the Audit Committee prior to such meetings. During the financial year, five (5) meetings were held with the attendance of the Chief Financial Officer, Treasury Director/Group Company Secretary, Partners and/or Managers from the external auditors and in-house internal audit team also attended the meetings upon invitation where matters relating to the external and internal audit were discussed. The Audit Committee also met with the external auditors without the presence of management during each of the Audit Committee meeting. The Chairman of the Audit Committee will report and highlights key issues discussed at each Audit Committee meeting to the Board accordingly. Audit Committee Report DURING THE FINANCIAL YEAR UNDER REVIEW, THE AUDIT COMMITTEE HAD CARRIED OUT ITS DUTIES AND RESPONSIBILITIES NAMELY HELD DISCUSSION WITH EXTERNAL AUDITORS, IN-HOUSE INTERNAL AUDITORS, RISK MANAGEMENT COMMITTEE AND RELEVANT MEMBERS OF MANAGEMENT IN ACCORDANCE WITH ITS TERMS OF REFERENCE. THE AUDIT COMMITTEE IS OF THE VIEW THAT NO MATERIAL MISSTATEMENT, CONTINGENCIES OR UNCERTAINTIES AND SIGNIFICANT DEFICIENCIES IN INTERNAL CONTROL HAVE ARISEN, BASED ON THE REVIEWS MADE AND DISCUSSION HELD. Sustaining Lives, Empowering Communities Governance That Inspires Confidence Financial Insights Through Numbers Empowering Ownership PG. 137
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