Maxis Berhad
Annual Report 2015
page
58
Audit Committee Report
As at 31 December 2015
The Board of Maxis is pleased to present the Audit Committee Report for the financial year ended 31 December 2015.
MEMBERS AND MEETINGS
The Audit Committee (“the Committee”) has five members, all of whom are Non-Executive Directors and a majority of whom are
independent, including the Chairman of the Committee.
All members of the Committee are financially literate and are able to read, analyse, interpret and understand financial statements in
order to effectively discharge their duties and responsibilities as members of the Committee. Robert William Boyle is a Fellow of the
Institute of Chartered Accountants in England and Wales meeting the requirement under the Main Market Listing Requirements of
Bursa Securities (“MMLR”) that an Audit Committee must have at least one qualified accountant as its member.
Five (5) meetings were held and the details of the Committee members and the attendance of each member at Committee meetings
are set out below:
No Name
Status
Independent
Meetings Attended
1 Robert William Boyle
(Appointed as Chairman on 16 October 2009)
Non-Executive Director
Yes
5 out of 5
2 Tan Sri Mokhzani bin Mahathir
(Appointed as Member on 16 October 2009)
Non-Executive Director
Yes
5 out of 5
3 Hamidah Naziadin
(Appointed as Member on 1 February 2014)
Non-Executive Director
Yes
5 out of 5
4 Lim Ghee Keong
(Appointed as Member on 8 May 2014)
Non-Executive Director
No
5 out of 5
5 Mohamed Abdullah Al Harbi
(Appointed as Member on 13 October 2015)
Non-Executive Director
No
2 out of 2
6 Krishnan Ravi Kumar
(Resigned as Member on 30 April 2015)
Non-Executive Director
No
1 out of 2
The Group has an internal audit function which reports directly to the Committee.
The Group’s internal and external auditors and certain members of Maxis Management Team attended all the Committee meetings by
invitation.
The Committee also held two separate private sessions with internal auditors and external auditors respectively without the presence
of the Management. Both the internal and external auditors have unfettered access to members of the Audit Committee including the
Chairman anytime during the year.
Deliberations during the Committee meetings were minuted. The Chairman of the Committee reports the proceedings of the Committee
to the Board after every Committee Meeting. Minutes of the meetings were circulated to all members of the Board and significant
issues were brought up and discussed at Board meetings.
SUMMARY OF ACTIVITIES OF THE COMMITTEE
The Committee’s duties and responsibilities are set out in its Terms of Reference which are available at
.
During the financial year, the Committee reviewed and updated the Terms of Reference to be in line with the Statement on Risk
Management and Internal Controls (Bursa Securities, 2013) and an annual review was performed to ensure that they have been
complied with in full. In the discharge of its duties and responsibilities, the Committee had undertaken the following major activities
during the year:
