Page 50 - China Mobile Limited - Annual Report 2012

China Mobile Limited
Annual Report 2012
44
Corporate Governance Report
Audit Committee
Membership
The current members of the Company’s Audit Committee are Dr. LO Ka Shui (chairman), Mr. Frank WONG Kwong Shing
and Dr. Moses CHENG Mo Chi, who are all independent non-executive directors. All members of our Audit Committee have
many years of finance and business management experience and expertise and appropriate professional qualifications.
Responsibilities
The duties of our Audit Committee are to be primarily responsibile for, among other things, making recommendations to the
Board on the appointment, re-appointment and removal of external auditors, approving the remuneration and terms of
engagement of external auditors, dealing with any questions of resignation or dismissal of such auditors; reviewing and
monitoring external auditors’ independence and objectivity and the effectiveness of the audit process in accordance with
applicable standards; developing and implementing policies on the engagement of external auditors to provide non-audit
services; monitoring the integrity of financial statements of the Company and the annual reports and accounts, interim report
and, if prepared for publication, quarterly reports, and reviewing significant financial reporting judgments contained in them;
and overseeing the Company’s financial reporting system and internal control procedures.
Work Done in 2012
In 2012, the Audit Committee met on five occasions and the attendance of each member is disclosed on page 42 of this
annual report. In addition, the Audit Committee met three times with the external auditors in 2012 and one of such meeting
was held without any executive directors being present.
In 2012, the Audit Committee:
• reviewed and approved the financial statements and results announcement, the report of the directors, financial review
and final dividend for the financial year ended 31 December 2011;
• reviewed and approved our 2011 Annual Report on Form 20-F, which was filed with the U.S. Securities and Exchange
Commission (“US SEC”);
• reviewed and approved the interim report, interim results announcement and interim dividend for the six months ended
30 June 2012;
• reviewed and approved the budgets and remuneration of the external auditors;
• reviewed and approved the revised Terms of Reference of the Audit Committee;
• reviewed and approved the assessment report on the disclosure controls and procedures;
• reviewed and approved the 2011 assessment report in relation to effectiveness of compliance with section 404 of the U.S.
Sarbanes-Oxley Act of 2002 (the “SOX Act”);