MY E.G. SERVICES BERHAD Registration No. 200001003034 (505639-K) 132 TERMS OF REFERENCE (CONT’D) The Terms of Reference of the AC were as follows: (cont’d) 8. Responsibilities and Duties (cont’d) External Auditors (cont’d) c) To review with Senior Management:- r "VEJU SFQPSUT BOE NBOBHFNFOU MFUUFS JTTVFE CZ UIF FYUFSOBM BVEJUPST BOE UIF JNQMFNFOUBUJPO PG BVEJU recommendations; r *OUFSJN àOBODJBM JOGPSNBUJPO BOE r 5IF BTTJTUBODF HJWFO CZ UIF PGàDFST PG UIF $PNQBOZ UP FYUFSOBM BVEJUPST d) To discuss problems and reservations arising from interim and final audits, and any matter the external and internal auditors may wish to discuss (in the absence of Senior Management where necessary). e) To set policies and procedures to assess the suitability, objectivity and independence of the external auditors. f) To consider the appointment and/or re-appointment of auditors, the audit fee and any questions of resignation or dismissal including recommending the nomination of person or persons as auditors. In considering the appointment and/or re-appointment of the auditors, to consider among others:- r 5IF BEFRVBDZ PG UIF FYQFSJFODF BOE SFTPVSDFT PG UIF BDDPVOUJOH àSN r 5IF QFSTPOT BTTJHOFE UP UIF BVEJU r The accounting firm’s audit engagements; r 5IF TJ[F BOE DPNQMFYJUZ PG UIF $PNQBOZ T (SPVQ CFJOH BVEJUFE BOE r 5IF OVNCFS BOE FYQFSJFODF PG TVQFSWJTPSZ BOE QSPGFTTJPOBM TUBGG BTTJHOFE UP UIF QBSUJDVMBS BVEJU The AC is to consider the performance of the external auditors and its independence annually as below:- r 5IF DPNQFUFODF BVEJU RVBMJUZ BOE SFTPVSDF DBQBDJUZ PG UIF FYUFSOBM BVEJUPST JO SFMBUJPO UP UIF BVEJU r 5IF FYUFSOBM BVEJUPST BCJMJUZ UP NFFU EFBEMJOFT JO QSPWJEJOH TFSWJDFT BOE SFTQPOEJOH UP JTTVFT JO B timely manner as contemplated in the external audit plan; r 5IF JOGPSNBUJPO QSFTFOUFE JO UIF "OOVBM 5SBOTQBSFODZ 3FQPSU PG UIF BVEJU àSN r 5IF OBUVSF PG UIF OPO BVEJU TFSWJDFT QSPWJEFE CZ UIF FYUFSOBM BVEJUPST BOE GFFT QBJE GPS TVDI TFSWJDFT relative to the audit fee; r 8IFUIFS UIFSF BSF TBGFHVBSET JO QMBDF UP FOTVSF UIBU UIFSF JT OP UISFBU UP UIF PCKFDUJWJUZ BOE independence of the audit arising from the provision of non-audit services or tenure of the external auditors; and r 0CUBJOJOH XSJUUFO BTTVSBODF GSPN UIF FYUFSOBM BVEJUPST DPOàSNJOH UIBU UIFZ BSF BOE IBWF CFFO independent throughout the conduct of the audit engagement and in accordance with the terms of all relevant regulatory requirements. g) To review and approve the non-audit services provided by the external auditors and/or its network firms to the Company for the financial year, including the nature of the non-audit services, fees for the non-audit services relative to the external audit fees and safeguards deployed to eliminate or reduce the threat to objectivity and independence in the conduct of the external audit resulting from the non-audit services provided. In the event that the non-audit fees paid to the Company’s external auditors, or a firm or corporation affiliated to the external auditors’ firm are significant (e.g. constitute 50% of the total amount of audit fees paid to the Company’s external auditors) the Company is required to state the details on the nature of nonaudit services-rendered in the Annual Report under the AC Report. AUDIT COMMITTEE REPORT (CONT’D)
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