Audit Committee (Continued)
The functions of the Audit Committee are as laid down in Section 201B(5) of the Singapore Companies Act,
Cap. 50. The Audit Committee reviewed the audit scope and strategies of both the internal and external
auditors and met with the auditors and executive management to review and discuss the results of their audit
examinations including their evaluation of the system of internal controls.
The Audit Committee also reviewed the first quarter results, the half-year interim results, the third quarter
results, the final consolidated financial statements of the Group and balance sheet and statement of changes in
equity of the Company for the financial year ended 31 December 2015 as well as the auditors’ report thereon,
and the impact of the various new accounting standards on the operating results and financial position of the
Company and of the Group.
In addition, the Audit Committee reviewed the Interested Person Transaction for the financial year ended
31 December 2015 and reviewed all non-audit services provided by the external auditors to determine if
the provision of such services would affect the independence of the auditors and to obtain confirmation of
independence of the auditors.
The Audit Committee recommended to the Board of Directors the nomination of Ernst & Young LLP as auditors
of the Company to be approved at the forthcoming Annual General Meeting of the Company.
Further details regarding the Audit Committee are disclosed in the Corporate Governance Report.
Auditor
Ernst & Young LLP have expressed their willingness to accept reappointment as auditor.
On behalf of the Board,
Robert Sebastiaan Lette
Director
Lou Yiliang
Executive Director
Singapore
24 March 2016
I N N O T E K L I M I T E D
A N N U A L R E P O R T 2 0 1 5
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DIRECTORS’
STATEMENT
