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AEMULUS HOLDINGS BERHAD
TA R G E T I N G T H E B U L L’ S E Y E
AUDIT COMMITTEE REPORT
(Cont’d)
SUMMARY OF ACTIVITIES OF THE AUDIT COMMITTEE (Cont’d)
(ii) Oversee Activities of External Auditors in dealing with the Group (Cont’d)
d)
The AC also discussed and reviewed with external auditors the applicability of the new accounting standards and
new financial reporting regime issued by the Malaysian Accounting Standards Board.
e)
The AC reviewed the external auditors’ audit exit memorandum for financial period ended 30 September 2015.
f)
The AC met three times with the external auditors without the presence of the Executive Directors and management
staff to discuss any issues of concern to the External Auditors arising from the annual statutory audit.
g)
The AC reviewed the audit fees of the external auditors for the ensuing year prior to the Board of Directors for
approval.
h)
The AC reviewed and evaluated the performance and independence of the external auditors. The areas assessed
were (a) caliber of external audit firm; (b) quality processes / performance; (c) audit team; (d) independence and
objectivity; (e) audit scope and planning; (f) audit fees; (g) audit communications. The AC was satisfied with the
performance and independency of the external auditors and recommended their re-appointment to the Board.
(iii) Internal Audit (“IA”)
a)
Reviewed and approved the appointment of BDO Governance Advisory Sdn Bhd as Internal Auditors of the
Company.
b)
Reviewed the IA plan for year 2015-2018 as tabled by the internal auditors.
c)
Reviewed IA report from internal auditors and assessed the internal auditors’ findings, recommendations together
with the management’s comments.
(iv) Related Party Transaction
a)
Reviewed any related party transaction and conflict of interest situation that may arise within the Company and
the Group including any transaction, procedure or course of conduct that raises the questions on management
integrity.
(v) Other matters considered by Committee
a)
Reviewed the AC Report for inclusion in the Annual Report.
b)
Reviewed and adopted the internal audit function evaluation checklist and external auditors’ performance and
independence checklist.
AEMULUS HOLDINGS BERHAD RESTRICTED SHARE PLAN
Aemulus Holdings Berhad Restricted Share Plan (“RSP”) which had been approved by the shareholders of the Company at an
Extraordinary General Meeting held on 12 December 2014 and shall be in force for a duration of five years from 15 February
2016 until 14 February 2021. However, the RSP may at the discretion of the RSP scheme committee be extended provided
always that the initial RSP scheme period stipulated above and such extension made pursuant to the By-Laws shall not in
aggregate exceed a duration of ten (10) years.
During the financial year, no allocation of share options was made by the Company pursuant to the RSP and no share options
were vested under the RSP.