KLInfra-AnnualReport2004 (1.1MB).pdf - Announcements - Bursa ...

REPORT ON AUDIT COMMITTEE
KL Infrastructure Group Berhad (Company No. 425654-M) (Incorporated in Malaysia) and its subsidiaries
5. Meetings
The Audit Committee meetings shall be conducted at least four (4) times annually, or more frequently as circumstances
dictate. In addition, the Chairman may call for additional meetings at any time at the Chairman’s discretion.
In the absence of the Chairman, the other independent director shall be the Chairman for that meeting.
The members of the Audit Committee, General Manager (Corporate Affairs, Finance and Administration), Finance
Manager and the head of internal audit will normally be in attendance at the meetings. Representatives of the external
auditors are to be in attendance at meetings where matters relating to the audit of the statutory accounts and/or
external auditors are to be discussed.
Other directors, officers and employees of the Company and/or Group may be invited to attend, except for those portions
of the meetings where their presence is considered inappropriate, as determined by the Audit Committee. However, at
least once a year the Audit Committee shall meet with the external auditors without any executive board member
present.
Minutes of each meeting shall be kept and distributed to each member of the Audit Committee and also to the other
members of the Board of Directors. The Audit Committee Chairman shall report on each meeting to the Board of
Directors.
6. Quorum
The quorum for the Audit Committee meeting shall be the majority of members present whom must be independent
directors.
7. Reporting
The Audit Committee shall report to the Board of Directors, either formally in writing, or verbally, as it considers
appropriate on the matters within its terms of reference at least once a year, but more frequently if it so wishes.
The Audit Committee shall report to the Board of Directors on any specific matters referred to it by the Board for
investigation and report.
8. Objectives
The principal objectives of the Audit Committee is to assist the Board of Directors in discharging its statutory duties and
responsibilities relating to accounting and reporting practices of the holding company and each of its subsidiaries. In
addition, the Audit Committee shall:
• evaluate the quality of the audits performed by the internal and external auditors;
• provide assurance that the financial information presented by management is relevant, reliable and timely;
• oversee compliance with laws and regulations and observance of a proper code of conduct; and
• determine the quality, adequacy and effectiveness of the Group's control environment.
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