The Audit Committee of the Board is responsible for assisting the Board to ensure objectivity and credibility of financial reporting, and that the directors have exercised the care, diligence and skills prescribed by law when presenting the Group’s results to the shareholders. The Audit Committee is also responsible for assisting the Board to ensure effective risk management and internal control systems of the Group are in place and good corporate governance standards and practices are maintained by the Group. The committee’s authority and duties are set out in written terms of reference.
The Audit Committee’s responsibilities also include the appointment, compensation and supervision of the external auditors. To oversee the external auditors’ independence, procedures have been adopted by the Audit Committee for the monitoring and approval of all audit and permitted non-audit services to be undertaken by the external auditors.
The Audit Committee is comprised of three members, each of them is an independent non‑executive director. The Audit Committee is provided with sufficient resources to discharge its duties and meets regularly with management, the internal auditor and external auditor and also reviews their reports.
Members of the Audit Committee are:
Aman Mehta (Chairman)
Bryce Wayne Lee
Lars Eric Nils Rodert