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Asia Media Group Berhad
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Annual Report 2015
Corporate Governance Statement
(continued)
5.
UPHOLD INTEGRITY IN FINANCIAL REPORTING
5.1. Compliance with applicable financial reporting standards
The Board takes responsibility to present a balanced and meaningful assessment of the
Group’s position and prospects in the various financial reports and to ensure that the
financial statements are draw up in accordance with the provisions of the Act and the
applicable accounting standards in Malaysia.
The Audit Committee assists the Board in scrutinising information for disclosure to ensure
accuracy, adequacy and completeness to give a true and fair view of the state of affairs
of the Group especially of the Group’s quarterly and audited financial statements before
recommending to the Board for its approval.
5.2. Assessment of suitability and independence of External Auditors
The Audit Committee would review and monitor the suitability and independence of the
External Auditors. TheAudit Committee has in place an assessment of the External Auditors
and would assess them on an annual basis and report to the Board its recommendation
for the reappointment of the External Auditors at the annual general meeting.
The External Auditors have confirmed that they were, and have been, independent
throughout the conduct of the audit engagement in accordance with the terms of all relevant
professional and regulatory requirements.
The External Auditors can be engaged to perform non-audit services that are not perceived
to be in conflict with their role as the External Auditors. The Audit Committee is satisfied
with the competence and independence of the External Auditors and had recommended
the re-appointment of the External Auditors to the Directors at the annual general meeting.
The Audit Committee met with the External Auditors twice times during the financial year
ended 31 December 2015 to review the scope of audit process, the audit findings and
the annual financial statements, without the presence of the Executive Director and the
Management. The External Auditors are invited to attend the annual general meeting of
the Company and are available to answer the Shareholders’ enquiries on the conduct of
the statutory audit and the preparation and contents of their audit report.