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CapitaLand Limited
Annual Report 2015
Directors’ Statement
Audit Committee
(continued)
The Audit Committee also reviews the policy and arrangements by which employees of the Company and any other persons
may, in confidence, report suspected fraud or irregularity or suspected infringement of any laws or regulations or rules or,
raise concerns about possible improprieties in matters of financial reporting or other matters, with a view to ensuring that
arrangements are in place for such concerns to be raised and independently investigated and for appropriate follow-up action
to be taken. Where the Audit Committee becomes aware of any improprieties, the Audit Committee shall discuss such matter
with the external auditors and, at an appropriate time, report the matter to the Board. Where appropriate, the Audit Committee
shall also commission internal investigations into such matters. Pursuant to this, the Audit Committee has introduced a whistle
blowing policy where employees may raise improprieties to the Audit Committee Chairman in good faith, with the confidence
that employees making such reports will be treated fairly and be protected from reprisal.
The Audit Committee met 5 times in 2015. Specific functions performed during the year included reviewing the scope of work
and strategies of both the internal and external auditors, and the results arising therefrom, including their evaluation of the
system of internal controls. The Audit Committee also reviewed the assistance given by the Company’s officers to the auditors.
The financial statements of the Group and the Company were reviewed by the Audit Committee prior to the submission to
the Board of Directors of the Company for adoption. The Audit Committee also met with the internal and external auditors,
without the presence of management, to discuss any issues of concern with them.
The Audit Committee has, in accordance with Chapter 9 of the Listing Manual of the SGX-ST, reviewed the requirements
for approval and disclosure of interested person transactions, reviewed the procedures set by the Group and the Company
to identify and report and where necessary, seek approval for interested person transactions and, with the assistance of the
internal auditors, reviewed interested person transactions.
The Audit Committee also undertook quarterly reviews of all non-audit services provided by KPMG LLP and its member firms
and was satisfied that they did not affect their independence as external auditors of the Company.
The Audit Committee has recommended to the Board of Directors that the auditors, KPMG LLP, be nominated for re-appointment
as auditors at the forthcoming Annual General Meeting of the Company.
Auditors
The auditors, KPMG LLP, have indicated their willingness to accept re-appointment.
On behalf of the Board of Directors
Ng Kee Choe
Director
Lim Ming Yan
Director
Singapore
29 February 2016
