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LAPORAN TAHUNAN 2005 ANNUAL REPORT

In attendance at Meetings The group financial controller, internal auditor and a representative of the external auditor shall normally

attend meetings. However, the Committee may invite any person to be in attendance to assist it in its deliberation.

Secretary to Audit Committee and Minutes The Company Secretary shall be the secretary of the Committee and as a reporting procedure, the minutes shall be circulated to all members of the Board.

Authority The Committee is authorized by the Board to investigate any activity within its terms of reference. It is authorized to seek any information it requires from any employee for the purpose of discharging its functions and responsibilities.

The Committee is also authorized to obtain legal or other independent professional advice and to ensure the attendance of outsiders with relevant experience and expertise if it considers this necessary.

The Committee is authorized to convene meetings with the external auditors, in the absence of management, at least once a year.

Functions The functions of the audit committee are as follows;

  • a)

    To review the audit plan with the external auditors.

  • b)

    To review, with the external auditors, their evaluation of the system of internal accounting controls and audit findings.

  • c)

    To review the audit report with the external auditors.

  • d)

    To review the assistance given by the Company’s officers to the external auditors.

  • e)

    To review the scope and results of internal audit procedures.

  • f)

    To review the financial statements of the Company and the consolidated financial statements submitted to the Audit Committee by the Company and thereafter to submit them to the Directors of the Company.

  • g)

    To review any related party transactions that may arise within the Company or the Group.

  • h)

    To nominate a person or persons as the external auditors.

  • i)

    Other functions as may be agreed to by the Audit Committee and the Board of Directors.

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