Annual Report 2020

China Merchants China Direct Investments Limited Annual Report 2020 54 CORPORATE GOVERNANCE REPORT (CONTINUED) BOARD OF DIRECTORS (CONTINUED) All Directors have access to the services of the Company Secretary or his assistant who regularly updates the Board on governance and regulatory matters so as to ensure that all applicable rules and regulations are followed. Any Directors, or any members of the Audit Committee, Nomination Committee or Investment Committee may take independent professional advice if they so wish at the expense of the Company, as arranged by the Company Secretary. The Board has three committees during the year under review, namely the Audit Committee, Nomination Committee and Investment Committee for assisting to monitor the management of the Company. The details of the Committees are as below: Audit Committee The Board has established an Audit Committee with specific written terms of reference which follow the guidelines set out by the Hong Kong Institute of Certified Public Accountants and the requirements of the Code. The latest version terms of reference of the Audit Committee are available on the Company’s website. All the Committee members, including the Chairman, are Independent Non-executive Directors. The duties of the Audit Committee include but not limited to the following: ‧ considering the appointment of the independent auditor, the audit fee, and any questions of resignation or dismissal of that auditor; ‧ reviewing the interim and annual results and reports; ‧ reviewing financial and internal controls and risk management system; ‧ considering major investigation findings on risk management and internal control matters; and ‧ reviewing the arrangements that employees of the Company can use, in confidence, to raise concerns about possible improprieties in financial reporting, internal control or other matters. The Audit Committee is provided with sufficient resources enabling it to perform its duties. The Audit Committee held two meetings during the year under review. The attendance of individual members of the Audit Committee is as follows: Attendance/ number of meetings Mr. TSANG Wah Kwong (Chairman of the Audit Committee) 2/2 Mr. LIU Baojie 2/2 Dr. LI Fang 2/2