Television Broadcasting Corporation Limited (TVB) announced the seventh revision of its Audit Committee's Terms of Reference Organization Charter on 27 March 2024. Established on 1 January 1999, the Committee aims to assist the Board in carrying out financial reporting supervision, objective review of audit procedures, assurance of auditor independence, assessment of the nature and extent of risks, and establishment and maintenance of the risk management framework and internal monitoring systems. Committee members are appointed by non-executive directors, who must have an independent non-executive director with accounting qualifications or expertise in financial management, and the majority of members are required to be independent non-executive directors. The Committee is chaired by an independent non-executive director, while the Secretary is held by...Show More

Television Broadcasting Corporation Limited (TVB) announced the seventh revision of its Audit Committee's Terms of Reference Organization Charter on 27 March 2024. Established on 1 January 1999, the Committee aims to assist the Board in carrying out financial reporting supervision, objective review of audit procedures, assurance of auditor independence, assessment of the nature and extent of risks, and establishment and maintenance of the risk management framework and internal monitoring systems. Committee members are appointed by non-executive directors, who must have an independent non-executive director with accounting qualifications or expertise in financial management, and the majority of members are required to be independent non-executive directors. The Committee is chaired by an independent non-executive director, while the Secretary is held by the Company Secretary. The Committee meets at least twice a year and may hold additional meetings as required. The Committee's remit includes managing relationships with external auditors, reviewing financial information, overseeing the Group's financial reporting system, risk management and internal monitoring systems, and reviewing environmental, social and governance issues. In addition, the Committee is responsible for developing and maintaining reporting policies and systems to address employees' concerns about financial reports, internal controls and other malpractice matters. Revision history shows that this mandate has been updated several times since its first adoption in 2005 to meet the needs of corporate governance and market changes.