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STAMFORD LAND CORPORATION LTD
CORPORATE GOVERNANCE STATEMENT
3. ACCOUNTABILITY AND AUDIT
Principle 10: Accountability
The Board provides shareholders with financial statements for the first three quarters and full financial
year in accordance with the Listing Manual. In presenting the annual and quarterly financial statements to
shareholders, the Board aims to provide shareholders with a balanced and clear assessment of the Group’s
performance, financial position and prospects.
Management provides the Board with management accounts, operations review and related explanations
and any other information as the Board may require together with the financial statements on a quarterly
basis. The Audit and Risk Management Committee reviews the financial statements and reports to the Board
for approval. The Board authorises the release of the results to the SGX-ST and the public via SGXNET.
The quarterly and full year financial results are also uploaded on the Group’s own website at www.
stamfordland.com
The Board also provides negative assurance confirmation to shareholders for the quarterly financial
statements in accordance with the Listing Manual.
Principle 11: Risk Management and Internal Controls
Principle 12: Audit and Risk Management Committee (“ARMC”)
The ARMC comprises four Independent and Non-executive Directors, namely:
Lim Hwee Hua
Chairman
Tan Chin Nam
Member
Mark Anthony James Vaile
Member
Douglas Owen Chester
Member
The Board is of the view that the ARMC members have adequate accounting or related financial management
expertise and accounting experience to discharge the ARMC’s functions.
The ARMC meets at least four times a year and as and when deemed appropriate, to carry out its functions.
The ARMC performs the functions as set out in the 2012 Code, inter alia:
•
Nominates the external auditors for appointment or re-appointment and reviews the level of audit fees,
cost effectiveness of the audit and the independence and objectivity of the external auditors
•
Reviews the audit plans and scope of work of the internal and external auditors
