BIMB Integrated Annual Report 2017

54 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 8.5 Collectively, the Audit Committee should possess a wide range of necessary skills to discharge its duties. All members should be financially literate and are able to understand matters under the purview of the Audit Committee including the financial reporting process. All members of the Audit Committee should undertake continuous professional development to keep themselves abreast of relevant developments in accounting and auditing standards, practices and rules. Application : Applied . Explanation on application of the practice : During the period under review, The AEC was chaired by Datuk Zaiton Mohd Hassan (“ Datuk Zaiton ”), an Independent Non-Executive Director with more than 30 years of relevant experience. Datuk Zaiton is a Fellow of the ACCA and a member of the MIA as well as the MICPA . Datuk Zaiton retired w.e.f. 1 February 2018. Subsequently, upon Datuk Zaiton retirement, Puan Noraini Che Dan was re-designated as the Chairman of AEC w.e.f. 2 February 2018. Puan Noraini Che Dan, also a member of the MIA as well as the MICPA . She has more than 25 years of relevant experience in accounting and finance. The Chairman and members of the AEC are financially literate and have carried out their duties in accordance with the AEC’s Terms of Reference. Other Members of the AEC possesses a wide range of relevant expertise and sufficient financial knowledge and understanding of the Company’s business. The members qualifications, expertise and experiences are as follows:- Member Qualification Expertise Tan Sri Ismail Adam  Master of Arts (Economics),Vanderbilt University USA  Bachelor of Arts (Hons), University of Malaya (UM)  Diploma in Public Admin, UM  Public Administration & Management  Human Resource & Management  Organisational Transformation