Singapore Airlines 2014 Annual Report Download - page 95

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093
ANNUAL REPORT FY2013/14
6 Equity Compensation Plans of SIA Engineering Company Limited (Subsidiary Company)
(i) SIA Engineering Company Limited (“SIAEC”) Employee Share Option Plan
At the end of the financial year, options to take up 24,556,312 unissued shares in SIAEC were outstanding. Details and
terms of the options have been disclosed in the Directors’ Report of SIAEC.
(ii) SIAEC Restricted Share Plan and SIAEC Performance Share Plan
Details and terms of the SIAEC RSP and SIAEC PSP have been disclosed in the Directors’ Report of SIAEC.
7 Audit Committee
At the date of this report, the Audit Committee comprises the following four independent non-executive Directors:
Gautam Banerjee (appointed Chairman on 27 July 2013)
William Fung Kwok Lun
Hsieh Tsun-yan
Jackson Peter Tai
The Audit Committee performed its functions in accordance with Section 201B(5) of the Singapore Companies Act, Cap. 50
which include inter alia the review of the following:
(i) quarterly and annual financial statements;
(ii) audit scopes, plans and reports of the external and internal auditors;
(iii) effectiveness of material controls, including financial, compliance, information technology and risk management controls;
(iv) interested person transactions;
(v) whistle-blowing programme instituted by the Company; and
(vi) any material loss of funds, significant computer security incidents and legal cases.
The Audit Committee has recommended to the Board of Directors that Ernst & Young LLP be nominated for re-appointment
as external auditor of the Company at the forthcoming Annual General Meeting.
8 Auditor
Ernst & Young LLP have expressed their willingness to accept re-appointment as auditor.
On behalf of the Board,
STEPHEN LEE CHING YEN
Chairman
GOH CHOON PHONG
Chief Executive Officer
Dated this 8th day of May 2014