Summary by Futu AI
PC Partner recently announced the scope of authority of its audit committee, which is composed of non-executive directors, the majority of whom are independent individuals, with the main purpose of assisting the board of directors in fulfilling statutory responsibilities related to financial and accounting matters, and ensuring the quality of internal audit functions and external auditor audits. The audit committee will be responsible for reviewing the integrity of financial reports, the independence and cost-effectiveness of external audit work, and reviewing the risk management framework. In addition, the committee will monitor the use of funds raised from secondary offerings after the listing, ensuring that they do not benefit sanctioned entities. The election and term of office of committee members are also explained in the announcement, which stipulates that the audit committee must hold at least two meetings annually. The scope of authority document was adopted by the audit committee on November 12, 2024, and approved by the board of directors.
