AwanBiru Technology Berhad - Annual Report 2021

Audit Committee Report 1. ROLE The Audit Committee was established on 30 November 2010 by the Company’s Board of Directors (the “ Board ”) to assist the Board in fulfilling its oversight responsibilities through a review of the financial reporting process, overseeing the role of the external and internal auditors, the internal control systems and overall compliance with relevant applicable legal and regulatory requirements. The Audit Committee is formally constituted within the Audit Committee Terms of Reference, which is available on the Company’s website at https://www.awantec.my 2. TERMS OF REFERENCE Audit Committee Terms of Reference sets out the composition, roles and responsibilities, authority and meeting requirements. Amongst others, it provides that no former key audit partner of the Company shall be appointed as a member of the AC unless the said former partner has observed a cooling-off period of at least two (2) years before being appointed as a member of the Audit Committee. 3. MEMBERSHIP As of 30 June 2021, the Audit Committee comprises four (4) Independent Non-Executive Directors, with all members having a working familiarity with basic finance and accounting practices, to enable the proper discharge of responsibilities by the Audit Committee. The Chairman, Mr. Paul Chan Wan Siew, is a member of the Malaysian Institute of Accountants. Meetings held on 26 August 2020 30 September 2020 25 November 2020 24 February 2021 19 April 2021 25 May 2021 28 June 2021 Number of Meetings 7 Attendance 100% Members Ramanathan a/l Sathiamutty (Independent Non-Executive Director) Attendance Rate: 7/7 Professor Emeritus Dato’ Dr. Hassan bin Said (Independent Non-Executive Director) Attendance Rate: 7/7 Hafidah Aman binti Hashim (Independent Non-Executive Director) Attendance Rate: 7/7 Chairman Paul Chan Wan Siew (Senior Independent Non-Executive Director) Attendance Rate: 7/7 Transparency | Awantec Annual Report 2021 103