Annual Report 2007 - The Link REIT

Annual Report 2007
The Link Real Estate Investment Trust
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Corporate Governance Report
During the year under review, the Audit Committee has performed the following tasks:
i) considered and reviewed the annual and interim financial results of The Link REIT in conjunction with the external
auditors;
ii)
reviewed the quarterly compliance reports and the risk assessment reports to consider the internal control, risk
management and compliance matters relating to The Link REIT;
iii)
reviewed the connected party transactions being conducted and confirmed that such transactions were entered into in
accordance with the REIT Code;
iv)
reviewed the internal audit reports as presented by the internal auditors and approved the internal audit plan for the
coming financial year; and
v) reviewed and assessed the independence and performance of the external auditors and their related fees.
The attendance record of the Audit Committee is as follows:
AUDIT COMMITTEE Year ended 31 March 2007 Year ending 31 March 2008 #
Number of meetings held 4 1
Members
Patrick FUNG Yuk Bun (Chairman) 4/4 1/1
Harry LEE Nai Shee 4/4 1/1
Allan ZEMAN 1/4 1/1
In attendance
Chief Executive Officer 4/4 1/1
Chief Financial Officer 1/1 1/1
Internal Auditor 4/4 1/1
External Auditors (1) 3/3 1/1
Director of Finance (2) 3/3 n/a
# Meetings held in thefinancial year to date
(1) Commencing from the Audit Committee meeting held on 27 March 2007, the external auditors will be invited to attend all future Audit Committee meetings.
(2) Mr Thomas PANG Pui Yin (Director of Finance) resigned on 14 February 2007.
Finance and Investment Committee
The Finance and Investment Committee comprises eight members with four Independent Non-Executive Directors, two
Non-Executive Directors and two Executive Directors. On 1 April 2007, Mr Nicholas Robert SALLNOW-SMITH, Chairman of the
Manager and an Independent Non-Executive Director was also appointed as a member of the Committee. Under its terms of
reference, the Finance and Investment Committee is responsible for evaluating and making recommendations on proposed
acquisitions and/or disposals of assets, reviewing budgets and making recommendations to the Board on all key items of