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AEMULUS HOLDINGS BERHAD
A N N U A L R E P O R T 2 0 1 6
AUDIT COMMITTEE REPORT
The primary objective of the Audit Committee is to assist the Board in the effective discharge of its fiduciary responsibilities
for corporate governance, financial reporting and internal control.
COMPOSITION OF AUDIT COMMITTEE
Mr Ong Chong Chee
Chairman
(Independent Non-Executive Director)
Ms Chok Kwee Bee
Member
(Senior Independent Non-Executive Director / Chairman)
Mr. Friiscor Ho Chii Ssu
Member
(Independent Non-Executive Director)
MEETINGS AND ATTENDANCE
There were six (6) Audit Committee meetings held during the financial year ended 30 September 2016. The record of
attendance is as follows:-
Name of Committee Member
Attendance
Mr Ong Chong Chee
6/6
Ms Chok Kwee Bee
6/6
Mr Friiscor Ho Chii Ssu
6/6
In carrying out its duties, the Audit Committee reported to and updated the Board on significant issues and concerns
discussed during the Audit Committee’s meetings and where appropriate, made necessary recommendations to the Board.
The Secretary was responsible to record all proceedings and minutes of all meetings of the Audit Committee.
SUMMARY OF ACTIVITIES OF THE AUDIT COMMITTEE
In line with the terms and reference of the Audit Committee (“AC”), the following activities were carried out by AC during the
financial year ended 30 September 2016 (“FY2016”) in discharging its functions and duties:-
(i)
Financial Reporting Oversight
a)
Reviewed the quarterly unaudited financial results with the finance team and thereafter recommended to the Board
for approval, for announcement to Bursa Malaysia Securities Berhad and submission to Securities Commission.
b)
Reviewed the annual audited financial statements with the external auditors and finance team, focusing particularly
on significant changes to accounting policies and practices, going concern assumptions, adjustments arising from
the audits, compliance with the relevant accounting standards and other legal requirements to ensure compliance
with the provisions of the Companies Act, 1965 and the ACE Market Listing Requirements.
(ii) Oversee Activities of External Auditors in dealing with the Group
a)
Discussed and reviewed the external auditors’ audit planning memorandum for the FY2016 outlining their
audit objectives, engagement and reporting responsibilities, audit approach, areas of audit emphasis, recent
development of the Group, financial reporting updates, legal updates, engagement team, reporting, timetable
and audit fees.
b)
The AC deliberated on the external auditors’ report at its meeting with regard to the relevant disclosures in the
annual audited financial statements for financial period ended 30 September 2015.
c)
The AC reviewed the external auditors’ findings arising from audits, focusing on management’s comment in
response to the audits in order to be satisfied that appropriate action is being taken.