AUDIT COMMITTEE INTRODUCTION The objective of the Audit Committee is to further enhance the internal control and financial reporting, processes and procedures of the Club with the aim of safeguarding the assets of the Club.
Reported by: MR HOON TAI MENG Chairman
HIGHLIGHTS OF THE YEAR 2020 was the last year of review following the 3-year plan by Mazars. Due to COVID-19, the review was postponed from May 2020 to early September 2020. This review was mainly on Fixed Asset Management, Building and Asset Maintenance Management, Human Resources Management and Payroll Processing. The review was completed in January 2021. The Internal Audit Report was presented to the Club Management and the Audit Committee. The Club noted the findings and had since made changes following the recommendation from the Internal Auditor.
LOOKING AHEAD With the 3-year plan on internal audit review completed, the Audit Committee would be working closely with the Club Management to ensure that the Club’s internal control processes are in place and for the Club to adopt best practices.
APPRECIATION I would like to express my heartfelt gratitude to the Management Committee, as well as my fellow Committee members and the staff of CSC for their contributions, effort and support in the past year.
ANNUAL REPORT 2020
P15
