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E U R O S P O R T S G L O B A L L I M I T E D
aud i t Commi t t e e ( Con t ’ d )
The Audit Committee performs the functions specified by section 201B (5) of the Act. Among other functions, it performed
the following:
•
Reviewed the half year and full year financial statements and dividend announcement, material announcement, and all
related disclosures to shareholders before submission to the Board for approval;
•
Reviewed the audit plan and audit report of the Company’s internal and external auditors and ensures the adequacy
of the Company’s system of accounting controls and the co-operation given by the Management to the external and
internal auditors;
•
Reviewed the annual financial statements and also discussed with the Management, the CFO and the external auditors
the significant accounting policies, judgement and estimate applied by the Management in preparing the annual
financial statements. Following the review and discussions, the Audit Committee then recommended to the Board for
approval of the audited financial statements;
•
Recommended to the Board for re-appointment of RSM Chio Lim LLP as auditors of the Company for the ensuing
year;
•
Undertook a review of the independence and objectivity of the external auditors through discussions with the external
auditors as well as reviewing the non-audit fees awarded to them;
•
Reviewed the nature and extent of non-audit services provided by the external auditors;
•
Reviewed the reports and findings from the internal auditors; and
•
Reviewed the Group’s interested person transactions to ensure that the transactions were carried out on normal
commercial terms and are not prejudicial to the interests of the Company or its non-controlling shareholders.
Sub s equen t de v e l opmen t s
There are no other significant developments subsequent to the release of the Group’s and the Company’s preliminary financial
statements, as announced on 26 May 2015, which would materially affect the Group’s and the Company’s operating and
financial performance as of the date of this report.
On behalf of the Board of Directors
..................................................
..................................................
Goh Kim San
Goh Kim Hup
Director
Director
1 July 2015
DirECTorS ’
rEPorT
Y E a r E nD E D 3 1 ma r Ch 2 0 1 5
