AUDIT COMMITTEE REPORT
(CONT’D)
Summary of Activities During the Financial Year
The Audit Committee met four (4) times during the financial year ended 31 December 2014 and details of
attendance are as follows: -
Name of Director
Designation
Attendance
Dr. Ooi Hun Pin
(resigned on 30 November 2014)
Independent Non-Executive Director
4/4
Loh Nam Hooi
Independent Non-Executive Director
4/4
Dato’ Seri Kiew Kwong Sen
(resigned on 1 December 2014)
Independent Non-Executive Director
3/4
Sim Seng Loong @ Tai Seng
(appointed on 30 November 2014)
Independent Non-Executive Director
Not applicable *
Leng Kean Yong
(appointed on 30 November 2014)
Independent Non-Executive Director
Not applicable *
* There was no audit committee meeting held between the date of appointment of Mr. Sim and Mr. Leng as
audit committee members and 31 December 2014.
The main activities undertaken by the Audit Committee for the financial year ended 31 December 2014 were
as follows:
•
Reviewed the adequacy of the Company’s risk management system for identifying and managing the risk.
•
Reviewed the external auditors’ scope of work and audit plans for the year.
•
Recommended to the Board of Directors the appointment and remuneration of the external auditors.
•
Met with the external auditors without the presence of Management to discuss any matters that they may
wish to present.
•
Reviewed the quarterly results, annual audited financial statements of the Company and Group including
announcements and made relevant recommendations to the Board for approval prior to their release to
the Bursa Securities.
•
Reviewed the internal auditors’ scope of work and audit plans for the year.
•
Reviewed internal audit reports, which highlighted audit issues and findings, recommendations and
Management’s response. Discussed with Management on the corrective actions taken to improve the
system of internal controls based on improvement opportunities identified in the internal audit reports.
•
Appraised the adequacy of actions taken by Management in resolving the reported audit issues and in
implementing suggested improvement measures.
Pentamaster Corporation Berhad
(572307-U)
•
Annual Report 2014
28
