Asia Media Group Berhad Annual Report 2014
54
AUDIT COMMITTEE REPORT
A.
Composition and Attendance
The members of the Audit Committee are as follows:-
YBhg Dato’ Hussian @ Rizal Bin A. Rahman (Resigned on 10 February 2015)
(Chairman of Audit Committee/ Independent Non-Executive Director)
Ms Yeong Siew Lee (Re-designated on 10 February 2015)
(Chairperson of Audit Committee/ Independent Non-Executive Director)
YBhg Datuk Seri Syed Ali Bin Tan Sri Abbas Alhabshee
(Member of Audit Committee/ Independent Non-Executive Director)
Mr Paul Jong Jun Hian (Appointed on 10 February 2015)
(Member of Audit Committee/ Independent Non-Executive Director)
The Board through the Nomination Committee assesses the members of the Audit Committee
on an annual basis and once in every three year would assess the effectiveness of the Audit
Committee and each its members to determine whether the Audit Committee and members
have carried out their duties in accordance with their Terms of Reference.
B. Terms of Reference of Audit Committee
Composition and Size
TheAudit Committee should be appointed by the Board of Directors based on the recommendation
of the Nomination Committee from amongst the Directors of the Company which fulfils the
following requirements:
(1) the Audit Committee must be composed of no fewer than 3 members;
(2) all committee members must be non-executive directors, with a majority of them being
independent directors;
(3) all committee members should be financially literate; and
(4) at least one member of the Audit Committee must fulfil the financial expertise requisite of
the Listing Requirements as follows:
(a) he must be a member of the Malaysian Institute of Accountants (“MIA”); or
(b) if he is not a member of the MIA, he must have at least 3 years’ working experience
and:
•
he must have passed the examinations specified in Part I of the First Schedule of
the Accountants Act 1967; or
•
he must be a member of one of the associations of accountants specified in Part II
of the First Schedule of the Accountants Act 1967; or
(c) fulfils such other requirements as prescribed or approved by the Bursa Securities.
