FGV Annual Report 2018

76 REINFORCED OUR STANDARDS OF GOVERNANCE FGV HOLDINGS BERHAD GOVERNANCE AT FGV: ACCOUNTABILITY AUDIT COMMITTEE REPORT DATUK MOHD ANWAR YAHYA Chairman, Audit Committee The Committee continued to oversee the Group’s financial reporting and evaluate the Group’s internal and external audit processes. The members of the Audit Committee during FY2018 up to 20 March 2019 and the record of their attendance are as follows: Datuk Mohd Anwar Yahya Independent Non-Executive Director Appointed as Chairman on 23 November 2017 Chairman 1 year and 4 months COMPOSITION Independent Non-Executive Directors 67% 33% Non- Independent Non-Executive Director Date of appointment to the Audit Committee Number of meetings attended in 2018 Designation Tenure in the Audit Committee 12/12 Dato’ Yahaya Abd Jabar Independent Non-Executive Director 5 years and 9 months Member Appointed as Member on 7 December 2012 (Resigned as Member on 6 September 2018) 9/9 Datuk Siti Zauyah Md Desa Non-Independent Non-Executive Director 2 years and 5 months Member Appointed as Member on 7 April 2016 (Resigned as Member on 26 September 2018) 7/9 Datin Hoi Lai Ping Independent Non-Executive Director 6 months Member Appointed as Member on 6 September 2018 3/3 En. Mohd Hassan Ahmad Non-Independent Non-Executive Director 6 months Member Appointed as Member on 26 September 2018 3/3 Directors 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 12 meetings in 2018. 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’s Chairman reported to the Board on principal matters deliberated at Audit Committee meetings. Minutes of each meeting were circulated to the Board at the next most practicable Board meeting.