Composition of Committee

Chairman

  • Mr. Latif Khalid Hashmi
    Non-Executive Director

Members

  • Mr. Syed Muhammad Irfan Aqueel
    Non-Executive Director
  • Mr. Syed Javaid Ashraf
    Independent / Non-Executive Director
  • Mr. Muhammad Imran Rafiq
    Non-Executive Director

Terms of Reference

Terms of Reference of Audit Committee are as follows:

  • To make recommendations to the Board on the appointment of external auditors, the audit fee, any question of resignation or removal and provision of any service by the external auditors in addition to audit.
  • To determine the measures to safeguards the assets of the Company.
  • To review, before submission to the Board, quarterly, half yearly and annual financial statements and related announcements to be issued by the Company. This renders focusing on significant items like material adjustments resulting from audit, going concern assumption, major judgmental areas, changes in accounting polices and practices and compliance of accounting standard, listing regulations and statutory requirements.
  • To facilitate the external audit, ensure coordination between external and internal auditors and discuss observations raised by the external auditors and management letter issued by them along with response of management.
  • To review scope and extent of internal audit and shall ensure that internal audit is adequately resourced and appropriately placed within the Company.
  • To consider major findings of internal investigations and management’s response.
  • To ascertain that financial and operating controls and accounting reporting systems are adequate and effective.
  • To review the statement on internal control system before endorsement by the Board.
  • To determine the compliance of applicable statutory requirements and shall also monitor compliance of Code of Corporate Governance to identify the significant violations.
  • To institute special projects, other reviews and tasks as the Board shall delegate to it, from time to time, by consulting CEO and referring external auditors and other external bodies.