Annual Report 2011 - Pou Sheng International (Holdings) Limited

Annual Report 2011
CORPORATE GOVERNANCE REPORT
REMUNERATION OF DIRECTORS (Continued)
Functions and Role (Continued)
The following is a summary of the work performed by the Remuneration Committee during the year
ended September 30, 2011:
1. reviewed and approved the remuneration packages of the Directors.
2. reviewed the adequacy of the terms of reference of the Remuneration Committee.
3. reviewed and approved the grant of share options to eligible employees under the Share Option
Scheme.
DIRECTORS’ RESPONSIBILITY FOR THE FINANCIAL STATEMENTS
The Directors acknowledge their responsibilities with respect to the financial statements of the Group
and ensure that they are prepared in accordance with statutory requirements and applicable accounting
standards. The Directors also ensure the publication of the financial statements of the Group in a timely
manner.
The report of the external auditors of the Company, Messrs. Deloitte Touche Tohmatsu, with regard to
their reporting responsibilities on the Group’s financial statements is set out in the Independent Auditor’s
Report on pages 47 and 48.
The Directors confirm that, to the best of their knowledge, information and belief after, having made all
reasonable enquiries, they are not aware of any material uncertainties relating to events or conditions that
may cast significant doubt upon the Company’s ability to continue as a going concern.
INTERNAL CONTROLS AND RISKS MANAGEMENT
The Board has overall responsibilities for introducing and continuously maintaining sound and effective
internal control system of the Group and reviewing its adequacy and effectiveness. It is committed to
reviewing and implementing effective and sound internal control systems to safeguard Shareholders’
interests. The Board has delegated to the management with defined structure and limits of authority, to
conduct reviews on and maintenance of all material controls including proper financial and accounting
records, operational and compliance and risk management functions as well as the implementation of the
internal control system to ensure compliance with relevant legislations and regulations.
The Company has established its own internal audit department for reviewing the effectiveness of the
Group’s internal control system. The Group’s internal control system has been reported by its internal audit
department to members of the Audit Committee frequently and has been reviewed annually by the Board to
ensure the internal control system remain practical, sound and effective.
One Team, One Dream
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