BIMB Integrated Annual Report 2017

50 Intended Outcome There is an effective and independent Audit Committee. The board is able to objectively review the Audit Committee’s findings and recommendations. The company’s financial statement is a reliable source of information. Practice 8.2 The Audit Committee has a policy that requires a former key audit partner to observe a cooling- off period of at least two years before being appointed as a member of the Audit Committee. Application : Applied Explanation on application of the practice : None of the Board members are former key audit partners of BHB and Group. Hence, there is no such person being appointed as a member of the AEC. The cooling off period of at least two (2) years for a former key audit partner before being appointed as a member of the AEC had been specified in the BHB’s Board Charter, which is available at www.bimbholdings.com; About Us – Corporate Governance – Board Charter