A N N U A L R E P O R T 2 0 1 6
48
CORPORATE
GOVERNANCE
Guideline
Code and/or Guide Description Company¡¯s Compliance or Explanation
Audit Committee
12.1
12.2
12.3
12.4
What is the role of the AC?
The AC comprises Mr Ong Chin Lin, the Lead Independent Director as Chairman, with
Ms Audrey Yap Su Ming and Mr Zainudin Bin Nordin as members. All members of the
AC are Non-Executive Independent Directors and have accounting or related financial
management expertise and experience.
The AC is governed by written terms of reference under which it is responsible for, amongst
others:
(a) reviewing the audit plan of the external auditors, including the nature and scope of
the audit, before the audit commences;
(b) reviewing the results of external audit, in particular:
(i)
their audit report; and
(ii) their management letter and Management¡¯s response thereto;
(c) reviewing the co-operation given by the Company¡¯s officers to the external auditors;
(d) reviewing the significant financial reporting issues and judgments so as to ensure the
integrity of the financial statements of the Company and the Group and any formal
announcements relating to the Company¡¯s financial performance;
(e) reviewing the independence of the external auditors annually and where the external
auditors also provide a substantial volume of non-audit services to the Company, keep
the nature and extent of such service under review, seeking to maintain objectivity;
(f)
making recommendations to the Board on the proposals to shareholders on the
appointment, re-appointment and removal of the external auditors, and approving the
remuneration and terms of the engagement of the external auditors;
