Yinson Annual Report 2020

175 Annual Report 2020 Report on Audit Committee The Board is pleased to present the Report on Audit Committee for FYE 2020 in accordance with Paragraph 15.15 of the Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”). TERMS OF REFERENCE The Audit Committee (“AC”) is formally constituted within the AC Terms of Reference, available on the Company’s website at www.yinson.com . COMPOSITION AND MEETINGS The AC comprises Independent Non-Executive Directors, with all members having a working familiarity with basic finance and accounting practices. The Chairman of AC, Dato’ Wee Hoe Soon @ Gooi Hoe Soon, is a member of the Malaysian Institute of Accountants. AC meetings are scheduled at least four (4) times a year with additional meetings scheduled as necessary. The AC met five (5) times in FYE 2020 as follows: Composition of Audit Committee Designation Date of appointment No. of meetings attended % Dato’ Wee Hoe Soon @ Gooi Hoe Soon Chairman, Senior Independent Non-Executive Director 11 August 2016 5/5 100 Raja Datuk Zaharaton binti Raja Zainal Abidin Member, Independent Non-Executive Director 11 August 2016 5/5 100 Datuk Abdullah bin Karim Member, Independent Non-Executive Director 16 October 2018 5/5 100 The meeting agenda, relevant reports and AC papers, which are prepared by Management, provide the AC with relevant facts and analyses to facilitate effective discussion and decision-making processes. These are furnished at least seven (7) days before meetings. At the meetings, the AC reviews the risk management and internal control, financial reporting, internal and external audit functions within the Group. Minutes of meetings are duly recorded by the Company Secretary. To avoid conflicts of interest, AC members must declare any interest they may have in any matters arising at the meetings. They will be excluded from deliberations and decisions in such matters and will also abstain from voting on the related resolutions at AC meetings/Board meetings/general meetings of the Company.