Audit Committee (JA)Audit Committee (JA) |
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A. |
TERMS OF REFERENCE:
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To review and approve Annual Audit Plan.
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To monitor the progress of Annual Audit Plan and to make revision to it, if any.
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To review and approve the ”Internal Audit Charter” and make amendment to it.
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To review the Audit Report and monitor on the action taken by the management in respect of audit findings.
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To review the evaluation of internal controls system by Internal Audit.
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To review the draft Financial Statement before submitting the same to the Commission for approval.
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To follow-up on the management actions pertaining to Auditor’s General’s Annual Report.
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B. |
QUORUM
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The attendance shall be 50% of the total number of membership.
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In the absence of the chairman, any member appointed by other members of the committee present at the meeting, to preside over the meeting.
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In the absence of the chairman, then the chairman appointed among the members shall have an extra vote.
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C. |
FREQUENCY OF MEETING
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3 time a year
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