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THE STRAITS TRADING COMPANY LIMITED
AUDIT COMMITTEE
The Audit Committee performs the functions specified in Section 201B(5) of the Companies Act, Cap. 50. The Audit Committee
reviews the overall scope of both internal and external audits and the assistance given by the Company’s officers to the auditors.
It meets with the Company’s internal and external auditors to discuss the results of their respective examinations and the internal
auditors’ evaluation of the Company’s system of internal accounting and financial controls. The Audit Committee reviews
interested person transactions to ensure that they are carried out on normal commercial terms and are not prejudicial to the
interests of the Company and its minority shareholders. The Audit Committee also reviews the consolidated financial statements
and the auditor’s report, as well as announcements to shareholders and the Singapore Exchange Securities Trading Limited
before submission to the Board. During the financial year, the Audit Committee met once with the external and internal auditors,
without the presence of Management. The Audit Committee annually reviews the independence of the external auditor and
recommends to the Board, the external auditor to be appointed. Further details on the Audit Committee are disclosed in the
Report on Corporate Governance.
AUDITOR
Ernst & Young LLP have expressed their willingness to accept re-appointment as auditor.
On behalf of the Board
Chew Gek Khim
Gary Hilton Weiss
Director
Director
Singapore
24 March 2016
DIRECTORS’ STATEMENT
