Sun Art Retail Group Limited - TodayIR.com

REPORT OF CORPORATE GOVERNANCE
DIRECTORS’ RESPONSIBILiTY IN RESPECT OF THE FINANCIAL STATEMENTS
The Directors acknowledge their responsibility for preparing the financial statements of the Company for
the year ended 31 December 2012.
The Directors 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.
The statement of the independent auditors of the Company about their reporting responsibilities on the
financial statements is set out in the Independent Auditors’ Report on pages 49 to 50.
AUDITORS’ REMUNERATION
An analysis of the remuneration paid to the external auditors of the Company, KPMG, in respect of audit
services and non-audit services for the year ended 31 December 2012 is shown on note 4(c) of the notes
to the consolidated financial statements on page 78.
INTERNAL CONTROLS
The Board has processes in place to ensure the Company has an adequate system of internal control.
This includes the Audit Committee receiving reports from Company’s internal audit department on the
results of their work.
The Board is responsible for maintaining an adequate internal control system to safeguard shareholder
investments and Company assets and with the support of the Audit Committee, reviewing the effectiveness
of such system on an annual basis.
The internal control system of the Group is designed to facilitate effective and efficient operations, to
ensure reliability of financial reporting and compliance with applicable laws and regulations, to identify and
manage potential risks and to safeguard assets of the Group. The internal auditor reviews and evaluates
the control process, monitors any risk factors on a regular basis, and reports to the Audit Committee on
any findings and measures to address the variances and identified risks.
COMPANY SECRETARY
Ms HO Siu Pik of Tricor Services Limited, external service provider, has been engaged by the Company
as its company secretary. Its primary contact persons at the Company are Mr Jean-Patrick PAUFICHET,
Ms Edith Wang, Legal and Tax Director, and Mr Dave Bian, Legal Counsel, of the Company.
The biographical details of Ms Ho is set out in the section of “Profiles of Directors and Senior Management”
on page 21 of this report. During the year ended 31 December 2012, Ms Ho undertook not less than 15
hours of relevant professional trainings.
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Sun Art Retail Group Limited
Annual Report 2012