FGV Annual Report 2016

ANNUAL INTEGRATED REPORT 2016 109 HOW WE ARE GOVERNED REPORT OF THE AUDIT COMMITTEE COMPOSITION AND MEETINGS The Audit Committee comprises exclusively of Non-Executive Directors, a majority of whom are Independent Non-Executive Directors. The Audit Committee held five (5) meetings in 2016. The members of the Audit Committee during the financial year 2016 up to 22 March 2017 and the record of their attendance are as follows: Directors Date of appointment to the Audit Committee Designation Tenure in the Audit Committee Number of meetings attended in 2016 Dato' Mohd Zafer Mohd Hashim (Independent Non-Executive Director) 20 January 2015 Chairman Approximately 2 years 2 months 5 out of 5 Dato' Yahaya Abd Jabar (Senior Independent Non-Executive Director) 7 December 2012 Member Approximately 4 years 4 months 5 out of 5 Datuk Nozirah Bahari (Non-Independent Non-Executive Director) 20 January 2015 (Resigned as Member on 7 April 2016) Member Approximately 1 year 2 months 1 out of 2 Datuk Siti Zauyah Md Desa (Non-Independent Non-Executive Director) 7 April 2016 Member Approximately 11 months 2 out of 3 Dato' Mohd Zafer Mohd Hashim Chairman of Audit Committee Audit Committee The Audit Committee continued to focus its work on the Group's financial reporting, financial control, risk management and compliance processes. Dato' Mohd Zafer Mohd Hashim is a Fellow of Institute of Chartered Accountants in England and Wales ("ICAEW") and a Chartered Accountant with the Malaysian Institute of Accountants ("MIA"). All members of the Audit Committee are financially literate and are able to analyse and interpret financial statements to effectively discharge their duties and responsibilities. The Audit Committee, therefore, meets the requirements of paragraph 15.09(1)(c) of the Bursa Securities Listing Requirements which stipulates that at least one (1) member of the Audit Committee must be a qualified accountant. During the financial year, the GP/CEO, the Group CFO, FGV Chief Internal Auditor and various Management attended the meetings upon the invitation of the Audit Committee. The Audit Committee Chairman reported to the Board on principal matters deliberated at Audit Committee Meetings. Minutes of each meeting were circulated to the Board at the most practicable next Board Meeting. CORPORATE GOVERNANCE STATEMENT