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StarHub Ltd Annual Report 2015
Guideline Questions How has the Company complied? Overview
Guideline
11.3 (a) In relation to the major risks faced by the The Board’s view on the adequacy and effectiveness of the risk Strategy
Company, including financial, operational, management system and internal controls (including financial,
Guideline compliance, information technology and operational, compliance and information technology controls) Performance
12.6 sustainability, please state the bases for established and maintained by the Group is made in concurrence
the Board’s view on the adequacy and with the Audit Committee (AC) and the Risk Committee (RC),
effectiveness of the Company’s internal based on the reviews performed by Management as supported by Governance & Sustainability
controls and risk management systems. audit findings by external and internal auditors and the relevant
assurance by CEO and CFO.
(b) In respect of the past 12 months, has the
Board received assurance from the CEO In assessing the adequacy and effectiveness of internal controls,
and the CFO as well as the internal auditor the Board ensures that material assets are properly safeguarded,
that: (i) the financial records have been integrity and availability of critical information and systems
properly maintained and the financial (including accounting records) are maintained, and reliable financial
statements give true and fair view of the information is prepared in compliance with applicable internal
Company’s operations and finances; and policies, laws and regulations.
(ii) the Company’s risk management and
internal control systems are effective? If Yes. For FY2015, the Board has received assurance from CEO and
not, how does the Board assure itself of CFO as well as the internal auditor that (a) the financial records
points (i) and (ii) above? of the Group have been properly maintained and the financial
statements give a true and fair view of the Group’s operations
(a) Please provide a breakdown of the fees paid and finances; and (b) the risk management and internal controls
in total to the external auditors for audit and of the Group are adequate and effective to address the financial,
non-audit services for the financial year. operational, compliance and information technology risks which
the Group considers relevant and material to its current business
(b) If the external auditors have supplied a environment and scope of operations. In addition, Management has
substantial volume of non-audit services implemented an enhanced process to sign off assurance to CEO and
to the Company, please state the bases CFO, to enhance the current processes for supporting the Board’s
for the Audit Committee’s view on the opinion on the adequacy and effectiveness of the risk management
independence of the external auditors. system and internal controls of the Group.
The aggregate amount of external auditors’ fees for FY2015 and
the breakdown for the audit and non-audit services are set out in
Note 20.3 to the Financial Statements of the Annual Report.
Non-audit fees amount to less than 50% of the total fees paid/
payable to the auditor of StarHub. On this basis, the AC is satisfied
that the independence of the external auditors has not been
compromised by the provision of the non-audit services and that
Rules 712 and 715 of the SGX-ST Listing Manual have been complied.
Financials
