Annual Report 2023

ANNUAL REPORT 2023 45 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 C1 to the Listing Rules; and 23. to consider other topics, as defined by the Board. ACCOUNTABILITY AND AUDIT The Directors are responsible for overseeing the preparation of accounts of each financial period, which should give a true and fair view of the state of affairs of the Group and of the results and cash flow for that period. In preparing the financial statements for the year ended 31 December 2023, the Directors have selected suitable accounting policies and have applied them consistently, adopted appropriate Hong Kong Financial Reporting Standards and Hong Kong Accounting Standards which are pertinent to its operations and relevant to the financial statements, made judgements and estimates that are prudent and reasonable, and have prepared the financial statements on the going concern basis. The statement of the auditor of the Company about the reporting responsibilities on the financial statements is set out in the “Independent Auditor’s Report” on pages 77 to 82. 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 10 Non-audit services (Tax, compliance and advisory services) 1 Total 11