Board Committee Roles and Responsibilities Mind Map

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BOARD COMMITTEE ROLES & RESPONSIBILITIES

Duties

Audit Committee

Ensure integrity of financial information

Increase the emphasis on risk and control

Give directors more insight in the companyaccounting and control system

Increase directors understanding in external andinternal audit

Improve communication between board andexternal auditor

Improve quality of financial reporting

Create forum for the chief financial officer

Strengthen the internal audit function

Nominating Commitee

Assessing and recommend to the boardcandidate of director

Appointment of directors to board commitee

Review board's succession plans and trainingprograms

Facilitate board induction and training program

Establish policy formalising its approach toboard room diversity

Remuneration Committee

Determine the compensation and benefits ofdirector and executive

Setting compensation plans

Recommended Committees

Audit Committee

Principle 5: Uphold Integrity In FinancialReporting

Para 15.12 of Listing Requirements

Nominating Committee

PRINCIPLE 2: Strengthen Composition

Best Practice AAIX and AAX of the MalaysianCode on Corporate Governance (function)

Remuneration Committee

PRINCIPLE 2: Strenghten Composition

Importance of board committee

Reduces board workload and improve focus onother issues

Creates structures that can use inherentexpertise to improve decisions in key areas

Communicates to shareholders

Increase in shareholder confidence

Communicates to stakeholders

Satisfy requirements of the governancerequirements