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« Previous Page Table of Contents Next Page »86 KPJ Healthcare Berhad
(Company No. 247079 M)
Annual Report 2010
b) Risk Management
i) To review and provide independent assurance to the
Board on the adequacy and effectiveness of risk management functions in the Group and whether principles and requirements of managing risk are consistently adopted throughout the Group; and
ii) To review the risk profile of the Group and major
initiatives having signifcant impact on the business.
c) Internal Audit
i) To review the adequacy of the scope, functions and
resources of the internal audit function, and that it has the necessary authority to carry out its work;
ii) To review the internal audit program and results of the
internal audit process and where necessary ensure that appropriate action is taken on the recommendations of the internal audit function;
iii) To approve any appointment or dismissal of the Head
of Internal Audit; and
iv) To review any appraisal or assessment of the
performance of members of the internal audit function.
d) External Audit
i) To review the External Auditor’s audit plan, scope of the
audit and audit reports;
ii) To consider the appointment of the External Auditor,
the audit fee and any questions of resignation or dismissal of the External Auditor before making any recommendation to the Board;
iii) To discuss issues and reservations arising from the
interim and fnal audits, and any matters the Auditor may wish to discuss; and
iv) To review the External Auditor’s Management Letter and
Management’s response.
e) Related Party Transactions
To monitor and review any related party transactions that
may arise within the Company or Group.
f) Other Matters
To consider such other matters as the Committee considers
appropriate or as authorized by the Board.
3. SUMMARY OF ACTIVITIES
During the year, the Committee carried out the following activities:
a) Financial results
i) Reviewed the quarterly fnancial statements, interim
financial announcements and year end financial statements of the Group and press releases relating to fnancial matters prior to the approval by the Board; and
ii) Reviewed the Company’s compliance, in particular the
quarterly and year end fnancial statements, with the Listing Requirements of Bursa Malaysia, Malaysian Accounting Standards Board and other relevant legal and regulatory requirements.
b) Risk Management
i) Reviewed the Group’s risk management process in
mitigating the principal business risks identifed; and
ii) Reviewed the risk profile of the Group and major
initiatives having signifcant impact on the business.
c) Internal Audit
i) Reviewed the annual audit plan to ensure adequate
scope and comprehensive coverage over the audit activities; and
ii) Deliberated on the Internal Audit Reports that were
tabled and appraised Management’s response to the key audit observations and recommendations.
d) External Audit
i) Reviewed the audit plan, audit strategy and scope of
work for the year; and
ii) Reviewed the results of the interim and annual audit as
well as the External Auditor’s Management Letter and evaluated Management’s response.
e) Related Party Transactions
Reviewed the recurrent related party transactions entered
into by the Group.
f) Other Matters
Reviewed the Audit Committee Report, Statement on
Corporate Governance and Statement of Internal Control prior to their inclusion in the Company’s Annual Report.
audit
committee
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