ANNUALREPORT 2013
51
Audit Committee
Report
A. CompositionandAttendance
Themembers of theAudit Committee are as follows:-
YBhgDato’ Hussian@Rizal BinA. Rahman
(Chairman of Audit Committee/ Independent Non-ExecutiveDirector)
YBhgDatukSeri SyedAli BinTanSri AbbasAlhabshee
(Member of Audit Committee/ Independent Non-ExecutiveDirector)
MsYeongSiew Lee
(Member of Audit Committee/ Independent Non-ExecutiveDirector)
The Board through the Nomination Committee assesses themembers of theAudit Committee
on an annual basis and once in every three year would assess the effectiveness of the Audit
Committeeandeach itsmembers todeterminewhether theAuditCommitteeandmembershave
carried out their duties in accordancewith their Terms of Reference.
B. Termsof ReferenceofAudit Committee
CompositionandSize
TheAuditCommitteeshouldbeappointedby theBoardofDirectorsbasedon the recommendation
of theNominationCommittee fromamongst theDirectorsof theCompanywhich fulfils the following
requirements:
(1) theAudit Committeemust be composed of no fewer than 3members;
(2) all committee members must be non-executive directors, with a majority of them being
independent directors;
(3) all committeemembers should be financially literate; and
(4) at least onemember of theAudit Committeemust fulfil the financial expertise requisite of
theListingRequirements as follows:
(a) hemust be amember of theMalaysian Institute ofAccountants (“MIA”); or
(b) if he is not amember of theMIA, hemust have at least 3 years’ working experience
and:
•
hemust havepassed theexaminations specified inPart I of theFirst Schedule
of theAccountantsAct 1967; or
•
hemust beamemberof oneof theassociationsof accountantsspecified inPart
II of theFirst Schedule of theAccountantsAct 1967; or
(c) fulfils such other requirements as prescribed or approved by theBursaSecurities.
