For 2019, the members of the Group Board Audit Committee (“the Committee”) were as follows:-

(a) Datuk George Ratilal (Chairman)
(b) Dato’ Lee Kok Kwan
(c) Wan Hanisah Binti Wan Ibrahim

The Committee held five meetings during the financial year ended 31 December 2019 with the President/Chief Executive Officer and the Senior Vice President of Internal Audit in attendance.

  • Authority

    The Committee shall have unlimited access to all information and documents relevant to its activities, to the Internal and External Auditors, and to management of the Companies within the Group.

  • Size and Composition

    The Committee shall be appointed by the Board from amongst the Non-Executive Directors and shall comprise a minimum of three members, a majority of whom shall be Independent Directors.

  • Meetings

    Meetings will be held once a quarter or at a frequency to be decided by the Chairman or the Committee.

  • Quorum

    A quorum shall consist of two members.

  • Duties and Responsibilities

    • Financial Reporting
    • Internal Audit
    • External Audit
    • Related Party Transaction
    • Other responsibilities
  • Internal Audit

    Reviewed and approved the Internal Audit Plan for Financial Year 2020 to ensure adequate scope and coverage of the audit activities of the Group and the resources requirements of the internal audit to carry out its functions.

  • External Audit

    Reviewed audit plan and scope of work of the External Auditors for the year 2019.

  • Financial Reporting

    Reviewed the annual audited financial statements of the Group to ensure that the financial reporting and disclosure requirements are in compliance with accounting standards.

The Group has an established Internal Audit Department, which reports directly to the Committee and assists the Board in discharging its responsibilities to ensure that the Group maintains a sound and effective system of internal controls.