AUDIT COMMITTEE REPORT
MEMBERS OF THE AUDIT COMMITTEE
Members of the Audit Committee are as follows:-
Chairman
:
:
Sim Seng Loong @ Tai Seng
(appointed on 30 November 2014)
Dr. Ooi Hun Pin
(resigned on 30 November 2014)
-
-
Independent Non-Executive Director
Independent Non-Executive Director
Members
:
:
Loh Nam Hooi
Leng Kean Yong
(appointed on 30 November 2014)
-
-
Independent Non-Executive Director
Independent Non-Executive Director
: Dato’ Seri Kiew Kwong Sen
(resigned on 1 December 2014)
-
Independent Non-Executive Director
TERMS OF REFERENCE
The Directors have approved and adopted the following Terms of Reference, which set out the roles and
responsibilities of the Audit Committee.
OBJECTIVES
•
To assist in discharging the Board of Directors’ responsibilities as they relate to the Group’s management
including risk management, internal control, financial reporting and compliance with statutory and legal
requirements;
•
To provide, by way of regular meetings, a direct line of communication between the Board of Directors,
senior management and external and internal auditors;
•
To oversee and review the quality of the audits conducted by the external and internal auditors; and
•
To enhance the perceptions held by interested parties, such as shareholders, regulators, creditors and
employees, of the credibility and objectivity of the financial reports.
COMPOSITION
•
The Audit Committee shall be appointed by the Board of Directors from amongst the Directors of the
Company and must consist of not less than three (3) members. All the Audit Committee members must be
Non-Executive Directors with a majority of them being Independent Non-Executive Directors. No Alternate
Directors shall be appointed a member of the Audit Committee.
COMPOSITION
•
At least one member of the Audit Committee:-
(i)
Must be a member of the Malaysian Institute of Accountants; or
(ii) If he is not a member of the Malaysian Institute of Accountants, he must have at least three (3) years
working experience; and
-
he must have passed the examination specified in Part I of the 1
st
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 1
st
Schedule of the Accountants Act, 1967.
•
Pentamaster Corporation Berhad
(572307-U)
Annual Report 2014
25
