Untitled - Swissco Holdings Limited

DIRECTORS’ REPORT
Audit Committee
The Audit Committee (“AC”) carried out its functions in accordance with Section 201B(5) of the Singapore
Companies Act, including the following:
• reviews the audit plans and the scope of examination of external auditors of the Group;
• reviews findings of the external auditors, the scope and the results of the audit, system of internal
controls, their management letters and management’s response;
• reviews the audit plan and reports of internal auditors.
• reports actions and submits minutes of the AC meetings to the Board of Directors with such
recommendations as the AC considers appropriate;
• reviews interested person transactions in accordance with the Listing Rules of the Singapore
Exchange Securities Trading Limited (“SGX-ST”).
• reviews the financial statements before submitting them to the Board for approval and for reporting
to SGX-SESDAQ;
• reviews legal and regulatory matters that may have material impact on the financial statements;
The AC reviewed the nature and amount of non-audit services provided by external auditors and is satisfied
that the provision of such services does not affect their independence and objectivity. The AC has
recommended the re-appointment of PricewaterhouseCoopers as auditors for the next ensuing year.
The AC has full access to and the co-operation of management and full discretion to invite any Director
or Executive Officer to attend its meetings and reasonable resources to enable it to discharge its function
properly.
Auditors
The auditors, PricewaterhouseCoopers, have expressed their willingness to accept re-appointment.
On behalf of the directors
Yeo Chong Lin
Director
Alex Yeo Kian Teong
Director
3 April 2006
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