|
Audit Committee
|
|
Home > Corporate Governance >
Board Committees
> Audit Committee
|
Established in August 1998, the Audit Committee, chaired by an independent
non-executive director, consists of three members, all
of whom are independent non-executive directors of
the Company. All committee members are well-versed
in the accounting, legal, banking and/or commercial
areas. The committee is authorised by the Board to
investigate any activity within its terms of reference. It
has unrestricted access to information relating to the
Group, to both the internal and external auditors, and
to the management and staff. Its terms of reference
are aligned with the recommendations set out in "A
Guide for Effective Audit Committees" issued by the
Hong Kong Institute of Certified Public Accountants
and the code provisions set out in the Corporate
Governance Code.
The Audit Committee, in addition to providing
advice and recommendations to the Board, also
oversees all matters relating to the external auditors.
It therefore, plays an important role in monitoring
and safeguarding the independence of the external
auditors. Both the Financial Controller and the Internal
Auditor are directly accountable to the Chairman of
the Audit Committee.
[terms of reference]
|
