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37 36 Best World International Limited
Annual Report 2011
Best World International Limited
Annual Report 2011
6. Audit Committee
The members of the audit committee at the date of this report are as follows:
Mr Lee Sen Choon (Chairman of audit committee and Independent Director)
Mr Robson Lee Teck Leng (Independent Director )
Mr Ravindran Ramasamy (Independent Director )
The audit committee performs the functions specifed by section 201B( 5) of the Companies Act. Among
others, it performed the following functions:
• Reviewed with the independent external auditors their audit plan;
• Reviewed with the independent external auditors their evaluation of the company’s internal
accounting controls, their report on the fnancial statements and the assistance given by the company’s
offcers to them;
• Reviewed with the internal auditors the scope and results of the internal audit procedures;
• Reviewed the fnancial statements of the group and the company prior to their submission to the
directors of the company for adoption; and
• Reviewed the interested person transactions (as defned in Chapter 9 of the Listing Manual of SGX ).
Other functions performed by the audit committee are described in the report on corporate governance
included in the annual report. It also includes an explanation of how independent auditors’ objectivity and
independence is safeguarded where the independent auditors provide non-audit services.
The audit committee has recommended to the board of directors that the independent auditors, RSM Chio
Lim LLP, be nominated for re-appointment as independent auditors at the next annual general meeting of
the company.
7. Independent Auditors
The independent auditors, RSM Chio Lim LLP, have expressed their willingness to accept re-appointment.
8. Subsequent Developments
There are no signifcant developments subsequent to the release of the group’s and the company’s
preliminary fnancial statements, as announced on 27 February 2012, which would materially affect the
group’s and the company’s operating and fnancial performance as of the date of this report.
On Behalf of the Directors
7 March 2012
Doreen Tan Nee Moi
Director
Dora Hoan Beng Mui
Director
DIRECTORS’
REPORT