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legal-general

Audit Committee

According to Article 85 (a)(b)(c) of the Financial Institutions of Myanmar Law, the Audit Committee was organized and composed of (5) members.

Duties and Responsibilities

  • To define accounting procedures and control.
  • To determine whether these procedures are being followed.
  • To check the bank’s accounts and records and the findings of the bank’s internal audit team;
    To check the status of practical implementation on these findings.
  • To monitor and control on compliance with rules and regulations of the Bank.
  • To report such monitoring to the Board of Directors
  • To provide recommendations and remarks on any matter presented to the board of directors,
    if requested.
  • To hold a regular meeting every three months.
  • To attend whenever the board of directors invites to attend the meeting.
  • To present the Audit Committee report at the general meeting.
  • To recommend on the appointment of an appropriate external auditor at the general meeting
  • To support on recognition and submission of accounts in accordance with accounting
    standards and the disclosure of financial statements in accordance with financial reporting
    standards.