Amal Ltd 2020-21

Amal Ltd | Annual Report 2020-21 3. Committees of the Board The Board has constituted the following committees: » Audit Committee » Nomination and Remuneration Committee » Stakeholders Relationship Committee » Corporate Social Responsibility Committee 3.1 Audit Committee 3.1.1 Role i) Approving: » appointment of the Chief Financial Officer » transactions with related parties and subsequent modifications thereof ii) Conducting: » pre-audit discussions with the Auditors regarding nature and scope of the audit and post-audit discussion to ascertain any area of concern » valuation of undertakings or assets, wherever necessary iii) Formulating: » scope, functioning, periodicity and methodology for conducting the internal audit in consultation with the Internal Auditor » Code of Conduct and related matters iv) Reviewing: » adequacy of the internal audit function, including the structure of Internal Audit department, staffing and seniority of the official heading the department, reporting structure coverage and frequency of internal audit » compliance with the provisions of the SEBI (Prohibition of Insider Trading) Regulations, 2015 at least once in a financial year and verify that the systems for internal control are adequate and are operating effectively » significant transactions and arrangements entered into by the unlisted subsidiary company » the Auditors’ independence, performance and effectiveness of the audit process » periodically with the Auditors the internal control systems, the scope of audit, including the observations of the Auditors and the Financial Statements before submission to the Board » the annual Financial Statements and Auditor’s Report with the Management before submission to the Board for approval with particular reference to: – any change in accounting policies and practices