Annual Report 2021

43 ANNUAL REPORT 2021 14. to review arrangements employees of the Company can use, in confidence, to raise concerns about possible improprieties in financial reporting, internal control or other matters and to ensure that proper arrangements are in place for fair and independent investigation of these matters and for appropriate follow-up action; 15. to act as the key representative body for overseeing the Company’s relationship with the external auditor; 16. to report to the Board on the matters of the terms of reference of the Audit Committee; 17. to review the Group’s financial and accounting policies and practices; 18. to develop and review the Company’s policies and practices on corporate governance and make recommendations to the Board; 19. to review and monitor the training and continuous professional development of directors and senior management; 20. to review and monitor the Company’s policies and practices on compliance with legal and regulatory requirements, and to review and evaluate the e f f e c t i v ene s s o f t he Company ’ s comp l i anc e management policies which enable the Company to achieve its goal in compliance management; 21. to develop, review and monitor the code of conduct and compliance manual (if any) applicable to employees and directors; 22. to review the Company’s compliance with the Corporate Governance Code and disclosure in the Corporate Governance Report set out in Appendix 14 to the Listing Rules; and 23. to consider other topics, as defined by the Board. AUDITOR’S REMUNERATION During the year under review, the remuneration to the Company’s auditor, Messrs. Deloitte Touche Tohmatsu, is set out as follows: Services rendered Fees paid/payable HK$’million Audit services 9 Non-audit services (Tax, compliance and advisory services) 1 Total 10 RISK MANAGEMENT AND INTERNAL CONTROL It is the responsibility of the Board to ensure that the Group maintains sound and effective risk management and Internal control systems to safeguard the shareholders’ investment and the Group’s assets and to provide reasonable, though not absolute, assurance against material misstatement or loss and to manage rather than eliminate the risk of failure to achieve business objectives. The internal control system of the Group comprises a well- established organisational structure and comprehensive policies and standards. Areas of responsibilities of each business and operational unit are clearly defined to ensure effective checks and balances.