Corporate Governance

4. Safeguarding Integrity in Financial Reporting

Certificate from MD/CFO
The Managing Director has provided a certificate to the Board regarding the Financial reports giving a true and fair view and being in accordance with accounting standards. Note that the company did not have a CFO during the entire year.

Board Committees
The Board of Directors takes ultimate responsibility for corporate governance including the functions of:

• establishing compensation arrangements of the Managing Director and its senior executives and officers;
• appointment and retirement of non-executive directors;
• appointment of auditors;
• areas of business risk;
• maintenance of ethical standards; and
• audit committee.

The Board seeks independent professional advice as necessary in carrying out their duties and responsibilities.

The Board has not established a separate audit committee because of the small size of both the Board and the Consolidated Entity. Instead the whole Board monitors performance of the Consolidated Entity closely and in conjunction with the external auditors is satisfied that the reporting systems in place provide accurate and timely reports of the Consolidated Entity’s activities and position.

Contracts and Transactions between the Consolidated Entity and its officers
Any proposed contract between an officer (including associates of the officer) and MIKOH Corporation Limited must be approved by the Board prior to its execution.

Return to Top