Annual Report 2012

7 CORPORATE GOVERNANCE REPORTAudit committeeThe audit committee consists of six directors. Mr. Wong Kai-Man currently serves as chairman of the audit committee. Members include Ms.Li Xiaoling, Rt Hon Dame Jenny Shipley, Ms. Elaine La Roche, Mr. Zhao Xijun and Mr. Dong Shi. The composition of the members of the auditcommittee is in compliance with the domestic and overseas regulatory requirements.The primary responsibilities of the audit committee include:• monitoring the financial report, reviewing the disclosure of accounting information and significant events;• monitoring and assessing the internal controls;• monitoring and assessing the internal auditing work;• monitoring and assessing the external auditing work;• paying attention to potential misconducts;• reporting work to the Board, reporting to the Board the issues within the scope of functions and duties of the committee, decisions orsuggestions, and maintaining communication and cooperation with other special committees;• other duties and powers authorised by the Board.In 2012, the audit committee convened seven meetings in total, reviewing the financial reports for 2011, the first half of 2012, and the first andthird quarter of 2012. The audit committee actively pushed forward the implementation and assessment of enterprise internal control standards,and tracked the rectification against audit findings by internal and external audits. The audit committee reviewed the internal audit working plan,and monitored and assessed the internal audit periodically. The audit committee seriously monitored and evaluated the external audit work, andreviewed the working plan for periodic financial report audit and the audit results, and urged the external auditors to issue audit report on time.Pursuant to requirements by the CSRC and the annual report working rules of the audit committee, the audit committee reviewed the financialreport of the Bank, and communicated and discussed with the management as to the major accounting policies and accounting estimatesand formed written opinions. The audit committee reviewed the Bank’s financial report again in respect to the initial audit opinions given bythe external auditors, communicated with the management and external auditors, discussed matters such as the accounting standards andmethods adopted in the financial statements, internal monitoring and financial report, and urged the auditors to submit the summary audit reportto the Board. The audit committee reviewed and approved the 2012 financial report of the Bank, and submitted the proposal to the Board forconsideration.Members of audit committeeNumber of meetingsattended in person/Number of meetingsduring term of officeNumber of meetingsattended by proxy/Number of meetingsduring term of office Attendance rate (%)Mr. Wong Kai-Man 7/7 0/7 100Ms. Li Xiaoling 7/7 0/7 100Rt Hon Dame Jenny Shipley 6/7 1/7 100Ms. Elaine La Roche 2/2 0/2 100Mr. Zhao Xijun 7/7 0/7 100Mr. Dong Shi 7/7 0/7 100In 2013, the audit committee will deepen the monitoring of the regular financial reports, push forward the implementation and assessment ofenterprise internal control standards, supervise and evaluate the internal and external audits, improve the effectiveness of communication andcooperation between internal and external auditors, and cooperate with external regulations.62 China Construction Bank Corporation annual report 2012