Audit Committee - Terms of Reference

• To consider any financial and audit matters of the Authority.


• To make recommendations to the Board on the appointment, re-appointment and removal of the external auditor, and to approve the remuneration and terms of engagement of the external auditor, and any questions of resignation or dismissal of that auditor.


• To review and monitor the external auditor's independence and objectivity and the effectiveness of the audit process in accordance with applicable standard, and to discuss with the auditor the nature and scope of the audit and reporting obligations before the audit commences.


• To review and monitor the effectiveness of the Authority's financial controls, internal controls and risk management systems.


• To consider any findings of major investigations of internal control matters as delegated by the Board or on its own initiative and management's response.


• To perform any other functions as may be delegated to it by the Authority or assigned to it by the Board in accordance with the WKCDA Ordinance.