Guideline
Questions
How has the Company complied?
Guideline
13.1
Does the Company have an
internal audit function? If not,
please explain why.
Yes. The Company outsources its internal audit
function to a professional service firm, BDO
LLP in January 2012, who is independent of the
Company’s business activity. BDO LLP reports
directly to the AC on audit matters and Chief
Financial Officer on administrative matters.
Guideline
11.3
(a) In relation to the major
risks faced by the
Company, including
financial, operational,
compliance,
information technology
and sustainability,
please state the bases
for the Board’s view
on the adequacy and
effectiveness of the
Company’s internal
controls and risk
management systems.
(b) In respect of the
past 12 months, has
the Board received
assurance from the
CEO and the CFO as
well as the internal
auditor that: (i) the
financial records
have been properly
maintained and the
financial statements
give true and fair view
of the Company’s
operations and
finances; and (ii)
the Company’s risk
management and
internal control systems
are effective? If not,
how does the Board
assure itself of points (i)
and (ii) above?
(a) The Company has in place a management
control framework and review conducted
by the internal auditors and external
auditors on the internal controls to assist
the Board to form an opinion on the
adequacy and effectiveness of the system
of risk management and internal controls.
(b) Yes.
DISCLOSURE GUIDE ON GOVERNANCE
PRACTICES
ASL Marine Holdings Ltd. /Annual Report 2015
56
