Singapore Airlines 2016 Annual Report Download - page 94

6 Audit Committee
At the date of this statement, the Audit Committee comprises the following three independent non-executive Directors:
Gautam Banerjee – Chairman
William Fung Kwok Lun
Hsieh Tsun-yan
The Audit Committee performed its functions in accordance with Section 201B(5) of the Singapore Companies Act, Cap. 50, the SGX Listing
Manual and the Code of Corporate Governance, which include inter alia the review of the following:
(i) quarterly and annual financial statements of the Group and the Company prior to their submissions to the Directors of the Company
for adoption;
(ii) audit scopes, plans and reports (including Key Audit Matters) of the external and internal auditors;
(iii) eectiveness of material controls, including financial, compliance, information technology and risk management controls;
(iv) interested person transactions (as defined in Chapter 9 of the SGX Listing Manual);
(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 held four meetings since the last Directors’ Report. In performing its functions, the Audit Committee 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 Audit Committee 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 or executive oicer to attend its meetings. The Audit Committee also recommends the appointment of the
external auditor and reviews the level of audit and non-audit fees.
The Audit Committee is satisfied with the independence and objectivity of the external auditor and has recommended to the Board of Directors
that the auditor, KPMG LLP, be nominated for re-appointment as auditor at the forthcoming Annual General Meeting of the Company.
In appointing our auditor for the Company, subsidiaries and significant associated companies, we have complied with Rules 712 and 715 of
the SGX Listing Manual.
Directors’ Statement
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