REPORT ON CORPORATE GOVERNANCE
13. Internal Audit
The Company has established an in-house internal audit function that is independent of the activities that it audits. The internal
auditor’s primary line of reporting is directly to the Chairman of the Audit and Risk Committee. However, the internal auditor also
reports administratively to the Managing Director of the Company.
The Audit and Risk Committee is satisfied that the internal auditor has met the standards set by nationally or internationally
recognised professional bodies including the Standards for the Professional Practice of Internal Auditing set by The Institute of
Internal Auditors.
The Audit and Risk Committee is satisfied that the internal audit function is adequately resourced and has the appropriate
standing within the Company.
The Audit and Risk Committee has reviewed the adequacy of the internal audit function at least annually, and is satisfied that the
internal audit function is adequate.
14. Executive Committee
The members of the Executive Committee at the date of this report comprise the following Directors:-
Non-executive Independent Directors:
LimMing Seong – Chairman
Dr Lim Boh Soon
Non-executive Non-Independent Director:
Tan Mok Koon
Executive Director:
Lim Boon Kheng
The primary function of the Executive Committee is to provide assistance to the Board in executing and overseeing the business,
operational and financial affairs of the Group.
The responsibilities of the Executive Committee include:
(i)
setting the Group’s policy direction and overseeing the strategic development of the Group’s operations;
(ii) reviewing and submitting to the Board for its approval all of the Group’s budgets, business plans, reports on financial
position, development and strategic plans and financial projections;
(iii) execution of all decisions of the Board and other material matters relating to the business of the Group;
(iv) reviewing and approving investment opportunities and overseeing the Group’s investments.
42
CSE Global Limited
