The Audit Committee

The Audit Committee

  • The Audit Committee of Hong Kong Applied Science and Technology Research Institute oversees both the internal and external audit processes are properly carried out. Its main functions are:

    1. To review ASTRI’s accounting policies and procedures and to ensure the adequacy of internal audit controls are in place in ASTRI
    2. To review ASTRI’s internal audit programme and the performance of its internal audit functions
    3. To review ASTRI’s compliance status and to ensure that all non compliances are duly reported and taken care of
    4. To consider the major findings of internal investigations and Management’s response
    5. To ensure coordination between the internal and external Auditors, and that the audit function is adequately resourced and maintains its independency
    6. To recommend to the Board the appointment of the external Auditor, the scope of service, the audit fee, and any question of resignation and dismissal
    7. To monitor and assess the performance of the external Auditor
    8. To review the external Auditor’s results of auditing and the Management’s response
    9. To review the Annual Audited Financial Statements before submission to the Board, focusing on:
      • Any change in accounting policies and practices
      • Major judgemental areas
      • Significant adjustments resulting from the audit
      • The going concern assumption
      • Compliance with internal policies, accounting standards and legal requirements
      • Review of any significant abnormality
    10. To discuss problems and reservations arising from the final audits, and any matter the Auditor may wish to discuss (in the absence of the Management where necessary).

    Members of the Audit Committee

    Dr Davy Lo Kwok-wai (Chairman)

    Ms Annie Choi Suk-han, JP

    Mr Ha Yung-kuen, BBS

    Mr Kwong Chi-keung, JP

    Ir Dr Alan Lam Hiu-fung

    Mr Pindar Wong