A N N U A L R E P O R T 2 0 1 6
50
CORPORATE
GOVERNANCE
Guideline
Code and/or Guide Description Company¡¯s Compliance or Explanation
12.5
Has the AC met with the auditors
in the absence of key management
personnel?
Yes, the AC has met with the IA and the EA in the absence of key management personnel
during FY2016.
12.6
Has the AC reviewed the
independence of the EA?
The AC has reviewed the non-audit services provided by the EA, Ernst & Young LLP, to the
Group and is satisfied that the nature and extent of such services would not prejudice the
independence and objectivity of the EA, and has recommended the re-appointment of the
EA at the forthcoming AGM.
(a) Please provide a breakdown
of the fees paid in total to the
EA for audit and non-audit
services for the financial year.
Table 8 ¨C Fees Paid/Payable to the EA for FY2016
S$ (¡¯000)
% of total
Audit fees
70.5
79
Non-audit fees
- Tax related services
18.5
21
Total
89
100
(b) If the EA have supplied
a substantial volume of
non-audit services to the
Company, please state the
bases for the AC¡¯s view on the
independence of the EA.
The non-audit services rendered during FY2016 were not substantial.
12.7
Does the Company have a whistle-
blowing policy?
Yes. The Company has in place a whistle-blowing policy which has been communicated to
all employees. The Company¡¯s staff and external parties such as the Company¡¯s business
associates may, in confidence, raise any concerns about possible improprieties in matters
of financial reporting or other matters to the Management and/or the AC by submitting
a whistle blowing report, the procedures for which are set out on the Company¡¯s website.
Where applicable, independent investigations may be carried out.
