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24

NANYANG PRESS HOLDINGS BERHAD

ATTENDANCE OF MEETINGS

The details of attendance of each member are as follows: -

Number of Meetings

Members

Held During Tenure in Office

Attended

Tan Sri Dato’ Ahmad Sabki bin Jahidin (Chairman) Datuk Henry Chin Poy-Wu Dato’ Lau Yin Pin (Appointed on 13.4.2005) Datuk Oh Chong Peng (Resigned on 31.3.2005) Mr Yoong Yan Pin Mr Lau Tiang Hua

4

4

4

4

1

1

3

3

4

4

4

4

SUMMARY

OF

ACTIVITIES

During the year, the activities of the Audit Committee included the review of: -

  • i)

    The unaudited quarterly financial result announcements for each quarter of the Group prior to the Board’s approval.

  • ii)

    The audit report and observations made by the external auditors on the audited financial statements that require appropriate actions and the Management’s response thereon reporting them to the Board.

  • iii)

    The internal audit plan and findings of the internal auditors.

  • iv)

    The scope of work and audit plan of the external auditors for financial year ended 30 June 2005.

  • v)

    The related party transactions and conflict of interest situations that may arise within the Group.

  • vi)

    The appointment and fees of the external auditors.

The Committee also met with the external auditors in the absence of the management.

INTERNAL AUDIT FUNCTION

There is an internal audit function established to carry out audits of the Group’s key operations. Internal audits are conducted based on the risk based audit plan that is reviewed by the Audit Committee and approved by the Board.

D u r i n g t h e y e a r , t h e a c t i v i t i e s o f i n t e r n a l a u d i t i n c l u d e d t h e r e v i e w o f o p e r a t i o n a l c o n t r o l s t o e n s u r e c o m p l i a n c e

with Group’s policies and procedures, conducting briefing on corporate governance, performing risk assessment and risk review which include updating risk records of subsidiaries.

EMPLOYEES’ SHARE OPTION SCHEME (“ESOS”)

The Audit Committee has reviewed and verified that the allocations of options granted during the financial year under the Company’s ESOS were in accordance with the provisions as set out in the ESOS Bye-Laws.

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