ASIAN HOTELS AND PROPERTIES PLC AnnuAl RepoRt 2012/13

PASSION45 ASIAN HOTELS AND PROPERTIES PLCAnnual Report 2012 /13corporate governanceCSERule No.7.10.5.(c)Subject Compliance requirement CompliancestatusDisclosure in the Annual Reportrelating to Human Resources &Compensation Committee(a) Names of Directors comprising the HumanResources & Compensation Committee(b) Statement of Remuneration PolicyAggregated remuneration paid to Executive andNon - Executive DirectorsCompliedApplicable Section inthe Annual ReportCorporate Governanceand the Board ofDirectors Reports7.10.6 Audit Committee The Company shall have an Audit Committee. Complied Corporate Governance7.10.6(a) Composition of AuditCommitteeShall comprise of Non - Executive Directors a majorityof whom will be Independent.Complied Corporate Governanceand the Board ofDirectors ReportsA Non - Executive Director shall be appointed as theChairman of the Committee.CompliedChief Executive Officer and Chief Financial Officershould attend Audit Committee Meetings.CompliedThe Chairman of the Audit Committee or one membershould be a member of a professional accountingbody.7.10.6(b) Audit Committee Functions Overseeing of the• Preparation, presentation and adequacyof disclosures in the financial statements inaccordance with Sri Lanka Accounting Standards• Compliance with financial reporting requirements,information requirements of the Companies Actand other relevant financial reporting relatedregulations and requirements• Processes to ensure that the internal controlsand risk management are adequate to meet therequirements of the Sri Lanka Auditing Standards• Assessment of the independence andperformance of the external auditors• Make recommendations to the Board pertainingto appointment, re-appointment and removal ofexternal auditors, and approve the remunerationand terms of engagement of the external auditorCompliedCompliedCorporate Governanceand the Board ofDirectors Reports