Basic HTML Version
3. Roles and Responsibilities
The BCC shall have the following specific
responsibilities on:-
i) Veto power to challenge, reject credit and
modify the terms of credits which have been
approved by the full-time executive committee
should the majority of the BCC be of the opinion
that the loan/financing would expose the Bank
to undue excessive risk.
ii) To approve “policy loans/financing” and
loans/financing/credit insurance which are
required by the statute to be approved by
the Board, provided that the initial filter
of approval is conducted by the full-time
executive committee.
iii) Have full authority to seek/obtain any
information it requires from any employee of
the Bank and to commission any investigations,
reports or surveys, which it deems necessary.
Board Audit Committee
1. Objective
The Board Audit Committee to review the financial
condition of the Bank, its internal controls,
performance and findings of the internal auditors,
and to recommend appropriate remedial action
regularly through its meeting, preferably at least
once in three months.
2. Composition
Based on the Terms of Reference of the BAC, the
meeting is to be held at least once every quarter.
During the financial year ended 31 December
2013, the BAC met 7 times. Details of members of
the Committee and attendance of each member for
year 2013 are as follows:-
* Reflects the number of meetings attended during the time
the Director held office
3. Roles and Responsibilities
The responsibilities of the BAC are as follows:-
i) External Audit
• Reviewwith the external auditors, the scope
of their audit plan, the system of internal
accounting controls, the audit reports, the
assistance given by the management and
its staff to the auditors and any findings and
actions to be taken. The BAC should also
select external auditors for appointment
by the Board each year and to review their
compensation, the scope and quality of their
work and their discharge or resignation.
• Ensure co-ordination where more than one
audit firm is involved.
CORPORATEGOVERNANCE
DISCLOSUREREPORT
NO. NAME OF DIRECTOR
NO. OF
MEETING
ATTENDED *
1
Nik Najib bin Husain
(Chairman)
7/7
2
Dato’ Rosli bin Mohamed Nor
7/7
3
Dato’ Agil Natt
7/7
4
Zakaria bin Ismail
7/7
5
Ismail bin Mahbob
6/7
054
EXIM Bank Annual Report 2013