{"id":368,"date":"2023-06-27T11:10:53","date_gmt":"2023-06-27T11:10:53","guid":{"rendered":"https:\/\/annualreports.ppecb.com\/2223\/?page_id=368"},"modified":"2023-08-24T14:40:20","modified_gmt":"2023-08-24T14:40:20","slug":"audit-committee-report","status":"publish","type":"page","link":"https:\/\/annualreports.ppecb.com\/2223\/part-3-departmental-reports\/audit-committee-report\/","title":{"rendered":"Audit Committee Report"},"content":{"rendered":"

[et_pb_section fb_built=”1″ custom_padding_last_edited=”on|tablet” module_id=”section_one” _builder_version=”4.21.0″ _module_preset=”default” background_color=”#FFFFFF” custom_padding=”76px||0px|||” custom_padding_tablet=”76px|20px|0px|20px|false|true” custom_padding_phone=”76px|20px|0px|20px|false|true” global_colors_info=”{}”][et_pb_row _builder_version=”4.20.4″ _module_preset=”default” width=”100%” max_width=”1280px” custom_padding=”||25px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.20.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” text_text_color=”#000000″ text_font_size=”11px” global_colors_info=”{}”]>> Part 03<\/a> > Audit Committee Report[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row module_class=”main-heading” _builder_version=”4.22.0″ _module_preset=”default” width=”100%” max_width=”1280px” custom_padding=”||25px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.20.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.22.0″ _module_preset=”default” text_text_color=”#00adef” text_font_size=”54px” text_line_height=”1em” custom_margin=”0px||0px||true|false” custom_padding=”0px||0px||false|false” text_font_size_tablet=”36px” text_font_size_phone=”26px” text_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n

audit committee<\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.22.0″ _module_preset=”default” text_font=”|700|||||||” text_text_color=”#000000″ text_font_size=”65px” text_line_height=”1em” custom_margin=”0px||0px|-50px|true|false” custom_margin_tablet=”0px||0px|0px|true|false” custom_margin_phone=”0px||0px|0px|true|false” custom_margin_last_edited=”on|phone” custom_padding=”14px||0px||false|false” text_font_size_tablet=”45px” text_font_size_phone=”30px” text_font_size_last_edited=”on|tablet” global_colors_info=”{}”]<\/p>\n

\/\/report<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_4,3_4″ _builder_version=”4.20.4″ _module_preset=”default” width=”100%” max_width=”1280px” module_alignment=”center” global_colors_info=”{}”][et_pb_column type=”1_4″ _builder_version=”4.20.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.20.4″ _module_preset=”default” text_text_color=”#00adef” link_text_color=”#00adef” link_letter_spacing=”5px” transform_translate=”-14px|0px” transform_translate_linked=”off” transform_rotate=”0deg|0deg|90deg” width=”70px” height=”10px” custom_margin=”20px||||false|false” global_colors_info=”{}” link_text_color__hover_enabled=”on|desktop” link_text_color__hover=”#000000″ link_letter_spacing__hover_enabled=”on|desktop” link_letter_spacing__hover=”10px”]<\/p>\n

>>><\/a><\/p>\n

[\/et_pb_text][\/et_pb_column][et_pb_column type=”3_4″ _builder_version=”4.20.4″ _module_preset=”default” custom_padding=”||||false|false” custom_padding_tablet=”|0px|||false|false” custom_padding_phone=”|0px|||false|false” custom_padding_last_edited=”on|desktop” global_colors_info=”{}”][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” text_font=”Andale Mono|700|||||||” text_text_color=”#00adef” text_font_size=”12px” text_line_height=”1.3em” text_orientation=”right” custom_margin=”||||false|false” text_orientation_tablet=”center” text_orientation_phone=”center” text_orientation_last_edited=”on|tablet” global_colors_info=”{}”]<\/p>\n

the _Perishable Products Export Control Board<\/span><\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_3,2_3″ _builder_version=”4.22.0″ _module_preset=”default” width=”100%” max_width=”1280px” module_alignment=”center” custom_padding=”||98px|||” locked=”off” global_colors_info=”{}”][et_pb_column type=”1_3″ _builder_version=”4.22.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_divider color=”#00adef” divider_position=”center” divider_weight=”2px” _builder_version=”4.20.4″ _module_preset=”default” width=”70px” module_alignment=”left” custom_margin=”||11px||false|false” custom_padding=”||0px||false|false” global_colors_info=”{}”][\/et_pb_divider][et_pb_text _builder_version=”4.22.0″ _module_preset=”default” text_font=”||||||||” text_text_color=”#00adef” text_font_size=”20px” text_line_height=”1.3em” width=”100%” module_alignment=”left” locked=”off” global_colors_info=”{}”]>As the Chairperson of the Audit Committee, it is my privilege to present the \/\/annual report on finance for the financial _ year ended 31 March 2023.[\/et_pb_text][et_pb_text module_class=”section-content” _builder_version=”4.22.0″ _module_preset=”default” text_font=”Open Sans||||||||” text_text_color=”#000000″ header_2_font=”Open Sans|600|||||||” header_2_text_align=”left” header_2_text_color=”#00adef” header_2_font_size=”15px” header_2_line_height=”1.9em” custom_margin=”||14px|||” locked=”off” global_colors_info=”{}”]The Committee confirms that it has conducted its work in accordance with the written terms of reference as approved by the PPECB Board. <\/p>\n

This report provides an overview of the Committee\u2019s activities, key financial considerations, and the effectiveness of our financial controls and reporting systems. Our primary objective is to ensure transparency, accuracy, and compliance in our financial operations. This report highlights our efforts in maintaining robust financial governance and safeguarding the interests of all stakeholders.[\/et_pb_text][\/et_pb_column][et_pb_column type=”2_3″ _builder_version=”4.20.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_divider color=”#00adef” divider_position=”center” divider_weight=”2px” _builder_version=”4.20.4″ _module_preset=”default” width=”70px” module_alignment=”left” custom_margin=”||11px||false|false” custom_padding=”||0px||false|false” global_colors_info=”{}”][\/et_pb_divider][et_pb_text module_class=”default-subheading dark-subheading main-heading” _builder_version=”4.22.0″ _module_preset=”default” text_font=”|||on|||||” header_3_font=”|600|||||||” header_3_text_color=”#000000″ header_3_font_size=”14px” header_3_line_height=”1.2em” custom_margin=”||0px||false|false” custom_padding=”||0px||false|false” locked=”off” global_colors_info=”{}”]<\/p>\n

1. Role of the Audit Committee<\/h2>\n

[\/et_pb_text][et_pb_text _builder_version=”4.22.0″ _module_preset=”default” text_font=”Open Sans||||||||” text_text_color=”#000000″ header_2_font=”Open Sans|600|||||||” header_2_text_align=”left” header_2_text_color=”#00adef” header_2_font_size=”15px” header_2_line_height=”1.9em” custom_margin=”||14px|||” global_colors_info=”{}”]The Audit Committee plays a critical role in overseeing the financial reporting process, internal controls, compliance with regulations, and the external audit function. We work closely with management, internal auditors, and external auditors to ensure the accuracy, integrity, and reliability of financial information. <\/p>\n

The Audit Committee is provided with sufficient resources to perform its duties, including support, when necessary, from the internal and external auditors, legal and corporate governance specialists and the Executive Management. The Committee\u2019s role includes examining all matters relating to the PPECB\u2019s accounting principles and practices, as used to review all material financial, operational and compliance controls. <\/p>\n

The Audit Committee is formally appointed and comprises four non-executive Board members, who provide a diverse range of competent perspectives based on their expertise and experience. An understanding of how management develops essential internal controls, applies effective accounting policies and presents important financial information is a primary responsibility of the Audit Committee. Additional responsibilities include being well-informed on accounting principles, industry knowledge and the assessment of the completeness and accuracy of reports, which are jointly evaluated by the Committee members. <\/p>\n

The members are independent and are not involved in the day-to-day management of the PPECB. The Audit Committee members serve for a period of three years and the Committee Chairperson is appointed by the Chairperson of the PPECB Board. <\/p>\n

Up until 31 January 2023, the Committee comprised the following members, with the necessary skills and experience to fulfil the duties of the Audit Committee:[\/et_pb_text][et_pb_text module_class=”section-content ul-arrow” _builder_version=”4.22.0″ _module_preset=”default” text_font=”Open Sans||||||||” text_text_color=”#000000″ header_2_font=”Open Sans|600|||||||” header_2_text_align=”left” header_2_text_color=”#00adef” header_2_font_size=”15px” header_2_line_height=”1.9em” custom_margin=”||14px|||” global_colors_info=”{}”]<\/p>\n