Baker Technology Limited
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71
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AuditCommittee
TheAuditCommittee(“AC”)carriedout its functions inaccordancewithSection201B(5)of theSingaporeCompanies
Act, Cap. 50, including the followingmain functions:
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reviewing the scope, changes, results and cost effectiveness of the external audit plan and process;
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reviewing theGroup’squarterlyand full year resultsannouncement, theaccountingprinciplesadoptedand the
external auditor’s report on the annual financial statements of theGroup and theCompany before submitting
such documents to theBoard for approval;
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reviewing, with the internal auditors, the scope of the internal audit procedures and the results of the internal
audit,monitoring the responses to their findings to ensure that appropriate follow-upmeasures are taken;
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reviewing the effectiveness of the Group and the Company’s material internal controls, including financial,
operational and compliance controls and riskmanagement via reviews carried out by the internal auditors;
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meets with the external and internal auditors andmanagement in separate executive sessions to discuss any
matters that these groups believe shouldbe discussed privatelywith theAC;
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reviewing 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;
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reviewing the independence andobjectivity of the external auditors;
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reviewing the nature and extent of non-audit services provided by the external auditor;
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recommending the reappointment of the external auditor to the Board, approving the compensation of the
external auditor, and results of the audit;
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reviewing the assistance given by theCompany’s officers to the auditors;
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reports discussions and actions of theAC to the Board of directors with such recommendations as theAC
considers appropriate; and
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reviewing the interested person transactions in accordancewith the requirements of the Singapore Exchange
SecuritiesTradingLimited’sListingManual.
TheAC, having reviewed all non-audit services provided by the external auditor to the Group, is satisfied that the
nature and extent of such serviceswould not affect the independence of the external auditor.
TheAC has held fivemeetings during the year. TheAC has alsomet with internal and external auditors, without the
presence of theCompany’smanagement, at least once a year.
Further details regarding theAC are disclosed in theCorporateGovernanceReport.
Directors’
statement
