Audit Committee (cont’d)
• Reviewed legal and regulatory matters that may have a material impact on the financial
statements, related compliance policies and programmes and any reports received from
regulators;
• Reviewed the cost effectiveness and the independence and objectivity of the external
auditor;
• Reviewed the nature and extent of non-audit services provided by the external auditor;
• Recommended to the Board of Directors the external auditor to be nominated, approved
the compensation of the external auditor and reviewed the scope and results of the audit;
• Reported actions and minutes of the AC to the Board of Directors with such
recommendations as the AC considered appropriate; and
• Reviewed interested person transactions in accordance with the requirements of the SGX-
ST’s Listing Manual.
The AC, having reviewed all non-audit services provided by the external auditor to the Group, is
satisfied that the nature and extent of such services would not affect the independence of the
external auditor. The AC has also conducted a review of interested person transactions.
The AC convened four meetings during the year with full attendance from all members.
The AC has also met with internal and external auditors, without the presence of the Company’s
management, at least once a year.
Further details regarding the AC are disclosed in the Report on Corporate Governance.
Auditor
Ernst & Young LLP have expressed their willingness to accept re-appointment as auditor.
On behalf of the Board of Directors:
.......................................................
Ang Kok Tian
Director
.......................................................
Ang Ah Nui
Director
Singapore
2 October 2015
DIRECTORS’
REPORT
ASL Marine Holdings Ltd. /Annual Report 2015
63
