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GRAND BANKS YACHTS LIMITED
ANNUAL REPORT
2016
DIRECTORS’ STATEMENT
The Risk Management and Audit Committee also reviewed the following:
•
assistance provided by the Company’s officers to the internal and external auditors;
•
quarterly financial information and annual financial statements of the Group and the Company prior to their submission
to the directors of the Company for adoption; and
•
interested person transactions (as defined in Chapter 9 of the SGX Listing Manual).
The Risk Management and Audit Committee has full access to management and is given the resources required for it to
discharge its functions. It has full authority and the discretion to invite any director or executive officer to attend its meetings.
The Risk Management and Audit Committee also recommends the appointment of the external auditors and reviews the level
of audit and non-audit fees.
The Risk Management and Audit Committee is satisfied with the independence and objectivity of the external auditors and
has recommended to the Board of Directors that the auditors, KPMG LLP, be nominated for re-appointment as auditors at
the forthcoming Annual General Meeting of the Company.
In appointing the auditors for the Company and subsidiaries, the Company has complied with Rules 712 and 715 of the SGX
Listing Manual.
AUDITORS
The auditors, KPMG LLP, have indicated their willingness to accept re-appointment.
On behalf of the Board of Directors
Mark Jonathon Richards
Director
Heine Askaer-Jensen
Director
29 September 2016
