Annual Report 2024

China Merchants China Direct Investments Limited Annual Report 2024 65 CORPORATE GOVERNANCE REPORT (CONTINUED) BOARD OF DIRECTORS (CONTINUED) 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 ‧ monitoring and reviewing the effectiveness of the Company’s whistle-blowing policy and the actions resulting from the investigation. The Audit Committee is provided with sufficient resources enabling it to perform its duties. The Audit Committee held three 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) 3/3 Dr. LI Fang 3/3 Mr. ZHU Qi 3/3 The scope of work done by the Audit Committee during the year under review includes the following: ‧ reviewed and recommended the Board to approve the audit fee proposal for the year 2024; ‧ reviewed the interim report and the interim results announcement for the six months ended 30 June 2024; ‧ reviewed the audit plan for the year 2024 to assess the general scope of audit work; ‧ reviewed the annual report (including audited consolidated financial statements) and the final results announcement for the year 2023; ‧ considered the internal controls assessment report prepared by the international accountancy firm; and ‧ recommended the Board to approve the appointment of new independent auditor.