Page 79 - S P Setia Annual Report 2013
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Annual Report 2013 S P SETIA BERHAD GROUP corporate Governance | 77


The Chairman of the Audit Committee should engage on a continuous basis with Senior Management such as the Chief Executive Offcer,
the Chief Financial Offcer, the Head of Internal Audit and the External Auditors in order to keep abreast of matters affecting the Group.

The Audit Committee held four (4) meetings during the fnancial year ended 31 October 2013. The details of attendance of the Audit
Committee members are as follows:

name of audit committee member total attendance of meetings

Mr Ng Soon Lai @ Ng Siek Chuan 4/4
Tan Sri Dato’ Hari Narayanan A/L Govindasamy 4/4
Datuk Ismail Bin Adam 4/4
Dato’ Leong Kok Wah (Retired on 28.02.2013) 1/1

The Chief Financial Offcer, Chief Internal Auditor and the External Auditors have attended the abovesaid meetings together with the Audit
Committee members.

6.0 Quorum
The quorum for a meeting shall be two (2) members. The majority of members present shall be Independent Directors.

7.0 authority
i. The Audit Committee is authorised by the Board to investigate any activity within its Terms of Reference. It is authorised to seek any
information it requires from any employee for the purpose of discharging its functions and responsibilities.

ii. The Committee may, with the approval of the Board, obtain legal or other advice from independent professionals and appoint external
parties with relevant experience and expertise to assist the Committee if it considers this necessary.

8.0 Duties
The duties of the Committee shall be:

i. To consider the appointment of the External Auditors, the audit fees and any questions of resignation or dismissal.

ii. To review the nature and scope of the audit by the External Auditors before commencement.
iii. To review the quarterly and year end fnancial statements before submission to the Board, focusing particularly on:

• any changes in accounting policies and practices;
• signifcant audit adjustments from the external auditors;

• the going concern assumption; and

• compliance with accounting standards and other legal requirements.
iv. To discuss problems and reservations arising from the interim and fnal audits and any matter the auditors may wish to discuss (in the
absence of management, where necessary).

v. To review the External Auditors’ management letter and management’s response.

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