FGV Annual Report 2017

ANNUAL INTEGRATED REPORT 2017 HOW WE ARE GOVERNED 83 GOVERNANCE AT FGV: ACCOUNTABILITY AUDIT COMMITTEE REPORT THE COMMITTEE CONTINUED TO OVERSEE THE GROUP’S FINANCIAL REPORTING AND EVALUATE THE GROUP’S INTERNAL AND EXTERNAL AUDIT PROCESS 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 nine meetings in 2017. The members of the Audit Committee during the financial year 2017 up to 20 March 2018 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 2017 Datuk Mohd Anwar Yahya (Independent Non-Executive Director) 23 November 2017 Chairman 4 months 1 out of 1 Dato’ Mohd Zafer Mohd Hashim (Independent Non-Executive Director) 20 January 2015 (Resigned as Chairman and Member on 31 October 2017) Chairman 2 years and 9 months 7 out of 7 Dato’ Yahaya Abd Jabar (Senior Independent Non-Executive Director) 7 December 2012 (Appointed as Chairman on 31 October 2017) (Redesignated as Member on 23 November 2017) Member 5 years and 4 months 9 out of 9 Datuk Siti Zauyah Md Desa (Non-Independent Non-Executive Director) 7 April 2016 Member 1 year and 11 months 9 out of 9 Dato’ Mohamed Suffian Awang (Independent Non-Executive Director) Appointed as Member on 31 October 2017 (Resigned as Member on 23 November 2017) Member 1 month 1 out of 1 Datuk Mohd Anwar Yahya is a Member of the Institute of Chartered Accountants in England and Wales (ICAEW), a Chartered Accountant with the Malaysian Institute of Accountants (MIA) and a Member of the Malaysian Institute of Certified Public Accountants (MICPA). 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 member of the Audit Committee must be a qualified accountant. During the financial year, the GP/CEO, the GCFO, the 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. Non-Independent Non-Executive Directors Independent Non-Executive Directors 33.33% 66.67% COMPOSITION