ASIAN HOTELS AND PROPERTIES PLC AnnuAl RepoRt 2012/13

corporate governancePASSIONASIAN HOTELS AND PROPERTIES PLCAnnual Report 2012 /1354Code Ref. Subject Applicable requirement Status Compliance Applicable Section in theAnnual ReportD.1.3D.1.4Respective responsibilities ofDirectors and AuditorsManagement Discussion andAnalysis• The Annual Report shouldcontain separate statementssetting out the responsibilitiesof the Directors for thepreparation and presentation ofthe Financial Statements andthe reporting responsibilities ofthe Auditors• Annual report to include sectionon Management Discussionand AnalysisD.1.5 Going Concern • Directors to substantiate andreport that the business isa going concern or qualifyaccordinglyD.1.6 Serious Loss of Capital • Directors to summon anExtraordinary General Meetingin the event that the netassets of the Company fallsbelow 50% of the value ofShareholders FundsD.2 Internal ControlD.2.1Effectiveness of system of internalcontrols• Directors to annually conducta review of the effectivenessof the system of internalcontrols. This responsibilitymay be delegated to the AuditCommitteeD.2.2 Internal Audit Function • The internal audit functionin Group companies is notoutsourced to the ExternalAuditor of that Company ina further attempt to ensureExternal Auditor IndependenceCompliedCompliedCompliedN/ACompliedCompliedRespective responsibilities ofthe Directors and AuditorsManagement DiscussionAnnual Report of the Board ofDirectorsAudit Committee Report/ RiskManagementCorporate Governance