Hong Kong Establishing an Audit Committee for Companies

799 Words Feb 24th, 2018 3 Pages
The code includes details of the minimum functions of the audit committee. The listing rules also specify the composition of the audit committee. The committee must by wholly comprosed of non-executive of directors and must at least three members. At least one of the members must be an independent non executive of director wit sufficientand appropriate financial experience.
Shareholders should be provided with information about the composition, role and function of the audit committee in order to assess its effectiveness.

Corporate Governance Disclosure Source
Details of the composition of the audit committee, the work undertaken during the year and the number of times the audit committee met during the year. GR
Details of the composition of the audit committee. HKSA recommendation
A description of the role and function of the audit committee. HKSA recommendation
The number of audit committee meetings held during the year. HKSA recommendation
Audit Committee member’s attendance at meetings held during the year. HKSA recommendation
Disclosure should be made of the audit committee’s independence. HKSA recommendation
A report of work done during the year and significant issues addressed including in respect of review of financial reports and internal controls. HKSA recommendation

To achieve the effectively of Audit Committee that including the increase Board effectiveness, accountability,…

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