Board of directors of 7 members:
| Claude FALGON
|Estelle Darie Rousseau
Audit CommitteeThe Audit Committee is established and chaired by an independent non-executive board member, and as a key component of Amret’s governance framework. The committee meets at least four times a year, or otherwise as required. The primary purposes of the Audit Committee are:
‣Overseeing the effectiveness of Amret’s internal audit function in the context of Amret’s overall risk management;
‣Overseeing the integrity of Amret’s financial statements, accounting and financial reporting processes, and audited financial statements;
‣Overseeing Amret’s compliance with its policies, procedures, and applicable laws and regulatory requirements; and
‣Overseeing the registered public accounting firm’s (independent auditor’s) qualifications and independence.
Mission of Audit Committee
The mission of the Audit Committee is to ensure the effectiveness and efficiency of internal audit tasks and internal control system and ensure the adequacy of reporting and decision tools
Authority of Audit Committee
The Committee is authorized by the Board to conduct or authorize investigations into any matters within its scope of responsibility. For this purpose, it is empowered to:
‣Seek any information it requires from any employees or external party.
‣Meet with Amret’s officers, external auditors or outside counsellor, as necessary.
‣Retain outside legal counsel, accountants or other independent professionals to advise the Committee or assist in the execution of an investigation.
Responsibility of Audit Committee
he duties of the committee are to review internal and external audit functions, monitor the integrity of the financial statements, ensure compliance with internal policies, and laws and regulations in effect, and review the risk management and internal control system to provide recommendations for improvement.
The Audit Committee comprises 5 members:
1- Mr. Kay Lot, Chairperson;
2- Mr. Claude Falgon, Member;
3- Mr. Mr. David Paulson, Member;
4- Mr. Mr. Samork Sreng, Member
5- Deputy/Chief of Executive Officer as observer; and 6- Head of Internal Audit as reporter & secretary.
Internal Audit Department
The internal audit function, or Internal Audit Department (IAD), was established in 1998 as a key component of Amret’s governance framework and its responsibilities are defined in the Internal Audit Charter. The IAD is independent of all Amret’s operations and reports directly to the Audit Committee.
Vision of IAD: To be recognized as professional internal auditors that provide value added recommendations to management and trusted consultation to the board of directors.
Mission of IAD: To provide professional and independent appraisals of Amret’s activities in order to add value by improving operational efficiency and effectiveness, internal control system, and compliance with policies, laws and regulations.