Annual Report 2023

148 2023 Annual Report Transport International Holdings Limited CORPORATE GOVERNANCE REPORT External Audit The external auditors play a crucial role in ensuring the integrity of the disclosure of financial information. If the external auditors discover any major irregularities during the course of their review of the Company’s interim financial report and their audit of the Company’s annual financial statements, they will report their findings directly to the Audit and Risk Management Committee and the Board. The external auditors are invited to attend meetings of the Audit and Risk Management Committee, as well as the Annual General Meeting. The Audit and Risk Management Committee is responsible for monitoring the audit and non-audit services rendered to the Group by its external auditors. There is a formal policy in place to ensure that the engagement of the external auditors in non-audit services will not impair their independence in providing the audit services. The external auditors are also required to review annually their relationship with the Group and to give written confirmation to the Audit and Risk Management Committee of their independent status. The Company engaged KPMG as its external auditors to audit the financial statements of the Company for the year ended 31 December 2023. KPMG has formally confirmed in writing to the Audit and Risk Management Committee that for the year ended 31 December 2023 and up to the date of this Annual Report, it has remained independent of the Group in accordance with the independence requirements of the HKICPA. The fees for services rendered by KPMG to the Group for the year ended 31 December 2023 are set out below: HK$ million Audit related services 4.8 Non-audit related services (Note) 1.2 Total 6.0 Note: Non-audit related services mainly consist of other review and reporting services.