Since the Intended Outcome 8

Since the Intended Outcome 8.0 Malaysia Corporate Governance code is to ensure the board (know as board of director) is able to review the audit committee for any finding and recommendation to make sure there is a independent audit committee and to safeguard the the financial statement is reliable information. I will talk about nomination committee how they can assist the board.

Their job scope is to hire a good candidate base on their background, skill and knowledge base on my group mate explanation and more information can be found in this appendix 1.10. I suggest a recommend that nomination committee should do a familiar program about audit committee that to allow the candidate or the board member to have a good knowledge of the audit committee. This allow to emphasis that the candidate or the board on how importance audit committee is, this is to enable them to do some review on finding and recommendation by the audit committee and to assure that the the financial statement is reliable and to ensure the audit committee is not influence by any conflict of interest. As we can see in appendix 1.10, there is no function mention about the familiar audit committee program. For example, nomination committee should conduct a annually once a familiar program with the existing board member to grasp the importance of audit committee.

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Next recommendation is the nomination committee should do a monitor about the frequency of meeting with the board of director member and the audit committee. This is because to ensure the nomination committee chosen candidate who had become a member of the board are actually doing their job by doing a regularly meeting with audit committee board as 4 time for a minimum as state in appendix 1.11. This allow to support the board to have a well-conscious mind to understand how importance to check on audit committee to ensure the intended outcome 8.0 Malaysia Code on Corporate Governance is truly achieved. As in the appendix 1.10, there is no monitor of the audit committee. For example, nomination committee should join the meeting with the board member and audit committee to ensure that they are doing their job as part of the monitoring.


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