Lenovo 2016 Annual Report Download - page 103

101
2015/16 Annual Report Lenovo Group Limited
MAIN ACTIVITIES DURING FY2015/16
The work of the Audit Committee follows an agreed annual work plan and principally falls under three
main areas: financial reporting; risk management and internal control; the oversight of external audit and
the management of the Company’s relationship with PwC. The timetable of the Audit Committee for the
fiscal year 2015/16 is set out in the below diagram.
Annual results, including
review of:
– reports to the Audit
Committee from Chief
Financial Officer, Chief
Auditor and external auditor
– draft annual report
incorporating directors’
report, corporate
governance report and
financial statements
– draft results announcement
Review and assess of
enterprise risk management
Review of the performance
and independence of external
auditor
Review of annual agenda of
the Audit Committee
Meeting with the external
auditor in the absence of
management
Meeting with the Chief
Auditor and the General
Counsel in the absence of
management
Recommendations to the
Board on:
– approval of the annual
results, annual report
and related results
announcement
– re-appointment of external
auditor
Any proposed
changes to accounting
policies
Key assumptions,
judgements and
estimates
Key litigation and legal
exposures
Internal audit planning
methodology
Summary of internal
audit and investigation
Non-audit services
provided by the
external auditor
Internal controls of the
Group including key
control issues
Scope of the audit
work
Significant audit
points
Minutes of previous
meeting
Reports on actions
taken or status of
follow-up items
arose from previous
meetings
Discuss on particular
“deep-dive” topics
Interim results, including
review of:
– reports to the Audit
Committee from Chief
Financial Officer, Chief
Auditor and external auditor
– draft interim report
– draft results announcement
Meeting with the external
auditor in the absence of
management
Meeting with the Chief
Auditor and the General
Counsel in the absence of
management
Recommendations to the
Board on interim results,
interim report and related
results announcement
Quarterly results, including
review of:
– reports to the Audit
Committee from Chief
Financial Officer, Chief
Auditor and external auditor
– draft results announcement
Review of the Ethics and
Compliance program of
the Group including the
whistleblowing arrangements
Recommendations to the
Board on the quarterly
results and related results
announcement
FINANCIAL
REPORTING
RISK
MANAGEMENT
AND INTERNAL
CONTROL
EXTERNAL AUDIT OTHERS
SPECIFIC ITEMSSTANDING ITEMS
MAY AUGUST / FEBRUARY NOVEMBER