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Kumpulan Fima Berhad (11817-V) •
Annual Report 2018
5.
EVALUATION OF THE AUDIT COMMITTEE
For FYE2018, the annual assessment and evaluation on the performance of the Audit Committee was conducted in-house by
the Company Secretaries. The evaluation process includes the Board evaluation on the overall Audit Committee performance
and the Committee’s assessment of its own performance. The evaluation included a review of detailed questionnaires
completed by each Director and member of the Audit Committee, based on the following key areas:
5.1 Board evaluation of Audit Committee:
(a)
To determine whether the Audit Committee carried out its duties in accordance with its Terms of Reference.
(b)
To determine whether the Audit Committee made board meetings more efficient and effective.
(c)
To determine whether the results, findings and/or recommendations reported to the Board in a clear, concise and
timely manner.
5.2 Evaluation by the Audit Committee:
(a)
Composition of the Audit Committee.
(b)
Whether the Audit Committee carried out its duties and responsibilities in accordance with its Terms of Reference.
(c)
The quality of the Audit Committee’s recommendations on the risk management and financial reporting.
(d)
Overall effectiveness of the Audit Committee.
The Nomination and Remuneration Committee discussed the findings on the evaluation and the results of the evaluation,
together with areas of improvement, were presented to the Board for deliberation. Overall, the Board is satisfied that the
Audit Committee and its members have discharged their functions, duties and responsibilities in accordance with the Audit
Committee’s Terms of Reference.
Audit Committee Report