TAN CHONG MOTOR HOLDINGS BERHAD
Annual Report 2014
29
AUDIT COMMITTEE REPORT
The Board of Directors of Tan Chong Motor Holdings Berhad is pleased to present the report of the Audit Committee of the
Board for the financial year ended 31 December 2014.
The Audit Committee was established by a resolution of the Board on 1 August 1994. The present terms of reference of the
Committee were adopted by the Board of Directors on 23 January 2013.
COMPOSITION AND MEETINGS
The composition of the Audit Committee and the attendance of its members at the five (5) meetings held during the financial
year were as follows:
Name
Designation
Attendance
Dato' Seow Thiam Fatt (Chairman)
Independent Non-Executive Director
5/5
Dato’ Ng Mann Cheong
Senior Independent Non-Executive Director
4/5
Dato’ Haji Kamaruddin @ Abas bin Nordin
Independent Non-Executive Director
5/5
Siew Kah Toong
Independent Non-Executive Director
5/5
TERMS OF REFERENCE
(A) Membership
The Audit Committee shall be appointed by the Board from amongst the Directors and shall comprise no fewer than
three members all of whom must be non-executive directors with a majority of them being independent directors.
The Audit Committee shall include at least one Director who is a member of the Malaysian Institute of Accountants or
alternatively, a person who must have at least 3 years working experience and have passed the examination specified
in Part I of the First Schedule of the Accountants Act, 1967 or is a member of one of the associations specified in Part II
of the said Schedule or fulfils such other requirements as prescribed or approved by Bursa Malaysia Securities Berhad.
No alternate director shall be appointed a member of the Audit Committee. The members of the Audit Committee shall
elect a chairman from amongst their number who shall be an independent director.
In the event of any vacancy in the Audit Committee which results in a breach in the Main Market Listing Requirements of
Bursa Malaysia Securities Berhad, the vacancy must be filled within three months. The terms of office and performance
of the Audit Committee and each of its members shall be reviewed by the Board at least once every three years.
(B) Authority
The Audit Committee is authorized by the Board, and at the cost of the Company, to:
1. investigate any matter within its terms of reference;
2. have the resources which are required to perform its duties;
3. have full and unrestricted access to any information pertaining to the Company or the Group;
4. have direct communication channels with the external auditors and person(s) carrying out the internal audit
function or activity;
5. be able to obtain independent professional or other advice; and
6. convene meetings with the external auditors, the internal auditors or both, excluding the attendance of other
directors and employees of the listed issuer.
