|Maj.Gen Rafi Ullah Khan (R)
|Mr. Shaikh Abdus Sami
|Mr. Ali Niazi
|Maj.Gen Abid Latif Khan (R)
Terms of Reference
The committee’s terms of reference are consistent with the Code of Corporate Governance and broadly include:
- Review of the interim and annual financial statements of the Company prior to approval by the Board of Directors.
- Discussions with the external auditors of major observations arising from interim and final audits; review of management letter issued by the external auditors and management’s response thereto.
- Review of scope and extent of internal audit ensuring that the internal audit function has adequate resources and is appropriately placed within the Company.
- Recommending to the Board of Directors the appointment of external auditors by the Company’s shareholders and any question of resignation or removal of external auditors, audit fees and provision by external auditor of any service to the Company in addition to the audit of its financial statements.
- Ascertain adequacy and effectiveness of the internal control system including financial and operational controls, accounting system and reporting structure.
- Determination of compliance with relevant statutory requirements and monitoring compliance with the best practices of corporate governance.
- Institute special projects, value for money studies or other investigations on any matters specified by the Board of Directors.