10
TIH Limited
Audit committee
The members of the Audit Committee (“AC”) during the year and at the date of this report are:
Liong Tong Kap (Chairman), non-executive Director
Vince Feng, non-executive Director
Daniel Budiman, non-executive Director
All AC members are independent.
The AC performs the functions specified in Section 201B of the Act and the SGX Listing Manual. In performing
those functions, the AC reviewed:
(a)
the audit plan of the Company’s auditors;
(b)
the scope and results of external audit procedures and the response by the Investment Manager;
(c)
the guidelines for corporate governance as set forth by the Singapore Code of Corporate Governance 2012
issued on 2 May 2012;
(d)
the assistance provided by the Company’s management to the auditors;
(e)
the quarterly financial information and annual financial statements of the Group and of the Company prior
to their submission to the Board of Directors and the auditor’s report on those financial statements;
(f)
the scope and results of the internal audit procedures as audited by the internal auditors, on the
effectiveness of the internal controls of the Company; and
(g)
interested person transactions (as defined in Chapter 9 of the SGX Listing Manual).
The AC has full access to the staff and senior management of the Investment Manager and is given the resources
required for it to discharge its functions. It has full authority and the discretion to invite any Director or the
Investment Manager to attend its meetings. The AC also recommends the appointment of external auditors and
reviews the level of audit and non-audit fees.
The AC is satisfied with the independence and objectivity of the external auditors and has recommended to the
Board of Directors that the auditors, KPMG LLP, be nominated for re-appointment as auditors at the forthcoming
Annual General Meeting of the Company.
In appointing our auditors for the Company, subsidiaries and significant associated companies, we have complied
with Rules 712 and 715 of the SGX Listing Manual.
