Audit Committee (continued)
•
oversee management on the design, implementation and monitoring of the risk management and internal control systems;
•
review, at least annually, the adequacy and effectiveness of the Group’s risk management and internal control systems,
including the financial, operational, compliance and information technology risks, and where required, provide an opinion as to
the adequacy and effectiveness of such risk management and internal control systems;
•
review reports submitted by the Company’s management on (i) changes in the risks highlighted in the last review, and (ii) the
Group’s ability to respond to risks brought about by changes in its business and the external environment; and
•
review and comment on the assurance provided or to be provided to the Board by such members of the Company’s senior
management team as may be required under applicable laws, regulations and/or guidelines on the integrity of the financial
records/statements, as well as the effectiveness of the Group’s risk management and internal control systems.
The Audit Committee has full access to management and is given the resources required for it to discharge its functions. It has full
authority and the discretion to invite any director or executive officer to attend its meetings. The Audit Committee also recommends
the appointment of the external auditors and reviews the level of audit and non-audit fees.
The Audit Committee is satisfied with the independence and objectivity of the external auditors and has recommended to the Board
of Directors that the auditors, KPMG LLP, be nominated for re-appointment as auditors at the forthcoming Annual General Meeting
of the Company.
In appointing our auditors for the Company and subsidiaries, we have complied with Rules 712 and 715 of the SGX-ST Listing Manual.
Auditors
The auditors, KPMG LLP, have indicated their willingness to accept re-appointment.
On behalf of the Board of Directors
Bertie Cheng
Director
Yap Boh Pin
Director
16 March 2016
52
TELECHOICE INTERNATIONAL LIMITED
2015 ANNUAL REPORT
DIRECTORS’
STATEMENT
