49
A N N U A L R E P O R T 2 0 1 6
CORPORATE
GOVERNANCE
Guideline
Code and/or Guide Description Company¡¯s Compliance or Explanation
(g) reviewing the policy and arrangements by which staff of the Company and any other
persons may, in confidence, raise concerns about possible improprieties in matters of
financial reporting or other matters (whistle-blowing policy);
(h) reviewing and reporting to the Board at least annually, on the adequacy and
effectiveness of the Company¡¯s internal controls. Review of the Company¡¯s internal
controls may be carried out with the assistance of externally appointed professionals;
(i)
approval of the hiring, removal, evaluation and compensation of the head of the
internal audit function or the accounting/ auditing firm or corporation to which the
internal audit function is outsourced;
(j)
reviewing whether the internal audit function is adequately resourced, is independent
of the activities it audits, and has appropriate standing within the Company. The
internal audit function can either be in-house, outsourced to a reputable accounting/
auditing firm, or performed by a major shareholder, holding company, parent company
or controlling enterprise with an internal audit staff;
(k) reviewing, at least annually, the adequacy and effectiveness of the Company¡¯s internal
audit function;
(l)
meeting with the external auditors, and the internal auditors, in each case without the
presence of Management, at least annually;
(m) commissioning and reviewing the findings of internal investigations into matters where
there is suspicion of fraud or irregularity or failure of internal controls or infringement
of any Singapore law, rule or regulation, which has or is likely to have a material impact
on the Company and the Group¡¯s operating results and/or financial position; and
(n) generally, performing such other functions and duties as may be required by the
relevant laws or provisions of the Catalist Rules and the Code (as may be amended
from time to time).
The AC has reasonable resources to enable it to discharge its functions properly.
