Amtel Holdings Berhad - Company Announcements - Bursa Malaysia

20
Amtel Holdings Berhad 2003 annual report
be a member of Malaysian Institute of Accountants or possess equivalent
qualifications recognised under the Accountants Act, 1967. No alternate director
shall be appointed to the Committee. The Committee shall elect a chairman from
among their number who shall be an independent director. The Board shall review
the term of office and performance of the Committee and each of its members at
least once every three years.
(2) Meetings
The Committee shall meet not less than four times during each financial year with a
quorum of at least two members who must be independent directors. Any member of
the Committee, the Company’s Chief Executive or the external auditors of the
Company may request for a meeting of the Committee to be held if they consider it
necessary. The Secretary of the Company or her representative shall act as secretary
of the Committee.
(3) Authority
The Committee shall be authorised by the Board to perform and investigate any
activity within its Terms of Reference and the Committee shall be empowered to
obtain any information from the Company and/or its employees and to procure any
professional and independent advice as may be necessary, in order to fulfill its
responsibilities.
(4) Functions
• To review with the auditors, the audit plan;
• To review with the auditors, their audit report and evaluation of the internal
system of accounting controls;
• To review the assistance given by the employees of the Group to the auditors;
• To review the accounting policies adopted and any changes in accounting
principles or practices;
• To review the internal audit functions and the effectiveness and quality of the
management information systems and other systems of accounting controls within
the Group;
• To review the compliance with accounting standards and requirements of the
Stock Exchange;
• To review the quarterly results and year end financial statements prior to the
approval of the Board;
• To review any related party transactions and conflict of interests situation that may
arise within the Group;
• To consider and/or recommend the appointment of the external auditors and their
remuneration and any issue arising from their resignation or dismissal; and
• To undertake any other functions as may be agreed between the Committee and
the Board.