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44 LIPPO MALLS INDONESIA RETAIL TRUST ANNUAL REPORT 2013
AUDIT COMMITTEE
The Audit Committee is appointed by the Board from among the Directors and comprises three members, all of whom (including
the Chairman of the Audit Committee) are Independent Directors.
The Audit Committee consists of the following members:
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The role of the Audit Committee is to monitor and evaluate the efectiveness of the Manager’s internal controls. The Audit Committee
also reviews the quality and reliability of information prepared for inclusion in fnancial reports, and is responsible for the nomination
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the auditors, the Audit Committee assesses changes in accounting standards and issues that impact LMIR Trust. The Audit Committee
has recommended the outsourcing of the Manager’s Internal Audit function and this has been accepted by the Board.
The Audit Committee’s responsibilities include:
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of fnancial reporting or other matters and ensuring that arrangements are in place for the independent investigation of such
matters and for appropriate follow-up action;
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least annually;
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prompt remedial action is taken by the management;
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seeking to balance the maintenance of objectivity and value for money;
CORPORATE GOVERNANCE REPORT (CONT’D)