boc hong kong (Holdings) Limited recently updated its Audit Committee terms of reference, clarifying the goals, roles, responsibilities, and operation mode of the Audit Committee. The committee is a standing committee under the board of directors, mainly responsible for monitoring the group's responsibilities in terms of the authenticity of financial reporting, internal control system, internal and external audit functions, etc. The committee will collaborate with management, internal auditors, and external auditors to review the financial reports, risk management, and effectiveness of internal control systems, ensuring compliance with relevant laws and regulatory requirements. The committee members are mainly composed of independent non-executive directors, selected by the board of directors. The committee will hold at least four meetings annually and...Show More

boc hong kong (Holdings) Limited recently updated its Audit Committee terms of reference, clarifying the goals, roles, responsibilities, and operation mode of the Audit Committee. The committee is a standing committee under the board of directors, mainly responsible for monitoring the group's responsibilities in terms of the authenticity of financial reporting, internal control system, internal and external audit functions, etc. The committee will collaborate with management, internal auditors, and external auditors to review the financial reports, risk management, and effectiveness of internal control systems, ensuring compliance with relevant laws and regulatory requirements. The committee members are mainly composed of independent non-executive directors, selected by the board of directors. The committee will hold at least four meetings annually and communicate with auditors and management as needed. In addition, the committee has the authority to conduct investigations, seek professional opinions, and conduct annual evaluations of its terms of reference. The update of these terms aims to strengthen the corporate governance framework and ensure that the group's financial reporting and internal controls meet the highest standards.