Notes to the Financial Statements - SingTel

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Directors’ ReportFor the financial year ended 31 March 20116. AUDIT COMMITTEEAt the date of this report, the Audit Committee comprises the following members, all of whom are non-executive and themajority of whom, including the chairman, are independent -Fang Ai Lian (Chairman of the Audit Committee)Dominic Chiu Fai HoKaikhushru Shiavax NargolwalaPeter Ong Boon Kwee (appointed on 1 September 2010)Graham John Bradley AM, who served during the financial year, stepped down as a member of the Audit Committee followingthe conclusion of the Annual General Meeting on 30 July 2010.The Audit Committee carried out its functions in accordance with Section 201B of the Singapore Companies Act, Chapter 50.In performing its functions, the Committee reviewed the overall scope of both internal and external audits and the assistancegiven by the Company’s officers to the auditors. It met with the Company’s internal auditors to discuss the results of therespective examinations and their evaluation of the Company’s system of internal accounting controls. The Committee alsoheld discussions with the internal and external auditors and is satisfied that the processes put in place by management providereasonable assurance on mitigation of fraud risk exposure to the Group.The Committee also reviewed the consolidated financial statements of the Group and the statement of financial position andstatement of changes in equity of the Company for the financial year ended 31 March 2011 as well as the Independent Auditors’Report thereon.In addition, the Committee had, with the assistance of the internal auditors, reviewed the procedures set up by the Group and theCompany to identify and report, and where necessary, sought appropriate approval for interested person transactions.The Committee has full access to and has the co-operation of the management and has been given the resources required for itto discharge its function properly. It also has full discretion to invite any Director or executive officer to attend its meetings. Theexternal and internal auditors have unrestricted access to the Audit Committee.The Committee has nominated Deloitte & Touche LLP for re-appointment as auditors of the Company at the forthcoming AnnualGeneral Meeting.7. AUDITORSThe auditors, Deloitte & Touche LLP, have expressed their willingness to accept re-appointment.On behalf of the DirectorsChumpol NaLamliengChairmanChua Sock KoongDirectorSingapore, 11 May 201188 SINGAPORE TELECOMMUNICATIONS LIMITED AND SUBSIDIARY COMPANIES
Statement of DirectorsFor the financial year ended 31 March 2011In the opinion of the Directors,(a)(b)the consolidated financial statements of the Group and the statement of financial position and statement of changes in equity ofthe Company as set out on pages 91 to 194 are drawn up so as to give a true and fair view of the state of affairs of the Group andof the Company as at 31 March 2011 and of the results, changes in equity and cash flows of the Group and changes in equity ofthe Company for the year then ended; andat the date of this statement, there are reasonable grounds to believe that the Company will be able to pay its debts as and whenthey fall due.On behalf of the DirectorsChumpol NaLamliengChairmanChua Sock KoongDirectorSingapore, 11 May 2011ANNUAL REPORT 2010/2011 89
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Notes to the Financial Statements - SingTel

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