| Corporate Governance
The Audit Committee
The Audit Committee comprises at least
three Directors with the majority being independent
and non executive members, and includes at least a member
qualified as an accountant. The Audit Committee meets
at least four times a year to review the Group’s
results, and meets with the internal and external auditors
to assess and verify the integrity of operations and
the financial status of the Group.
The Audit Committee advises the Board on the financial
performance of the company and its compliance with reporting
and disclosure requirements owed to the authorities
and public.
The
Audit Committee shall be responsible for:
- selecting, retaining or dismissing
the Group’s external auditors.
- selecting, retaining or dismissing
other auditors for non auditing services.
- reviewing corporate governance
practiced by the Group and its directors in
compliance to MCGP.
- reviewing:
- the results, fairness and independence
of internal and external audits.
- matters of concerns raised by
the auditors.
- changes necessary to the Group’s
accounting practices.
- the quality of accounting and
financial controls practiced within the Group.
- assessing the financial risks
of the Group's operations.
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