TAN CHONG MOTOR HOLDINGS BERHAD
Annual Report 2014
23
Name of Director
Details of Programme
Ho Wai Ming
(i) Bursa Malaysia’s Half Day Governance Programme: Advocacy Sessions on Corporate
Disclosure for Directors of Listed Issuers
(ii) KPMG: C-Level Talk on IFRS 15 - Revenue from Contracts with Customers
(iii) MIA: Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) Awareness
Programme for Accountant
(iv) TCCAMS: Executive Development Workshop on the Management Philosophy of the Late Mr
Wang Yung-ching
(v) MIA: CFO Dialogue 2014: The Cutting Edge CFO
(vi) KPMG: Revenue Recognition – Changes Under New Accounting Standard, Fraud Risk
Management, Related Party Transactions and Corporate Disclosure Policy
(vii) MIA: MIA International Accountants Conference 2014
During the financial year under review, the Chief Financial Officer and external auditors briefed the Board members on relevant
changes to the Malaysian Financial Reporting Standards that would affect the Group’s financial statements. The Directors
continue to undergo relevant training programmes to further enhance their skills and knowledge in the discharge of their
stewardship role.
Principle 5 – Uphold integrity in financial reporting by the Company
It is the Board’s commitment to present a balanced and meaningful assessment of the Group’s financial performance and
prospects at the end of each reporting period and financial year, primarily through the quarterly announcement of Group’s
results to Bursa, the annual financial statements of the Group and Company as well as the Report of the Board of Directors
and review of the Group’s operations in the Annual Report, where relevant.
The Board is responsible for ensuring that the financial statements give a true and fair view of the state of affairs of the Group
and the Company as at the end of the reporting period and of their results and cash flows for the period then ended.
In assisting the Board to discharge its duties on financial reporting, the Board has established an Audit Committee, comprising
wholly Independent Non-Executive Directors, with Dato' Seow Thiam Fatt as the Committee Chairman. The composition of
the Audit Committee, including its roles and responsibilities, are set out in the Audit Committee Report on pages 29 to
31 of this Annual Report. One of the key responsibilities of the Audit Committee in its terms of reference is to ensure that
the financial statements of the Group and Company comply with applicable financial reporting standards in Malaysia and
provisions of the Companies Act, 1965, as the case may be. Such financial statements comprise the quarterly financial report
announced to Bursa and the annual statutory financial statements.
The Board understands its role in upholding the integrity of financial reporting by the Company. Accordingly, the Audit
Committee, which assists the Board in overseeing the financial reporting process of the Company, has adopted a policy for
the types of non-audit services permitted to be provided by the external auditors, including the need for obtaining the Audit
Committee’s approval for such services.
In assessing the independence of external auditors, the Audit Committee requires written assurance by the external auditors,
confirming that they are, and have been, independent throughout the conduct of the audit engagement with the Company in
accordance with the independence criteria set out by the International Federation of Accountants and the Malaysian Institute
of Accountants.
CORPORATE GOVERNANCE STATEMENT
