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SUNMOON FOOD COMPANY LIMITED
ANNUAL REPORT 2015
DIRECTORS’
STATEMENT
6.
AUDIT AND RISK COMMITTEE
The Audit and Risk Committee (“ARC”), regulated by a set of written terms of reference, comprises four Independent
Non-Executive Directors. The members of the ARC during the year and at the date of this report are:
Mr Michael John Martin
(Chairman)
Dr. Tan Eng Liang
Mr Chee Wai Pong
Mrs Jessie Peh
(Appointed on 5 November 2015)
The ARC performs the functions specified in Section 201B(5) of the Singapore Companies Act, Chapter 50, the SGX
Listing Manual and the Code of Corporate Governance.
The ARC has held four meetings since the last report of the Directors. In performing its functions, the ARC met with
the Company’s external and internal auditors to discuss the scope of their work, the results of their examination
and evaluation of the Company’s internal accounting control system.
The ARC also reviewed the following:
(i)
assistance provided by the Company’s officers to the external and internal auditors;
(ii)
interested person transactions (as defined in Chapter 9 of the SGX Listing Manual);
(iii)
quarterly financial information and annual financial statements of the Group and the Company prior to their
submission to the Directors of the Company for adoption.
The ARC has full access to management and is given the resources required for it to discharge its functions. It has
full authority and the discretion to invite any Director and Executive Officer to attend its meetings. The ARC also
recommends the appointment of the external auditors and reviews the level of audit and non-audit fees. The ARC
is satisfied with the independence and objectivity of the external auditors and has recommended to the Board of
Directors that the auditors, RT LLP, be nominated for re-appointment as auditors at the forthcoming Annual General
Meeting of the Company.
Further details regarding the ARC are disclosed in the Report on Corporate Governance.
