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(f) Reviewed the scope and extent of non-audit services performed by external auditors;
(g) Held meetings annually with both external and internal auditors without the presence of
management;
(h) Reviewed the adequacy of the Group’s internal controls;
(i) Reviewed the efficiency and effectiveness of internal audit function; and
(j) Reviewed interested person transactions, if any.
The Audit Committee has full access to and co-operation of management and has been given the resources
required for it to discharge its function properly. It also has full discretion to invite any director and
executive officer to attend its meetings. The external and internal auditors have unrestricted access to the
Audit Committee.
The Company’s internal audit function has been outsourced to Philip Liew & Co. Both the external auditors
and the internal auditors report directly to the Audit Committee their findings and recommendations.
The Audit Committee, having reviewed the scope and value of non-audit services provided to the Company
and Group by the external auditors, are satisfied that the nature and extent of such services will not
prejudice the independence and objectivity of the external auditors.
The Audit Committee has recommended to the directors the nomination of Deloitte & Touche LLP for
re-appointment as external auditors of the Group at the forthcoming annual general meeting of the
Company.
7 AUDITORS
The auditors, Deloitte & Touche LLP, have expressed their willingness to accept re-appointment.
ON BEHALF OF THE DIRECTORS
Dr Lee Keng Thon
Lee Khin Tien
18 March 2013
26
REPORT OF THE DIRECTORS