An Audit Committee Resolution is a critical corporate governance document used to formally record and implement decisions made by a company's Audit Committee in Malaysia. This document type is essential for maintaining proper corporate governance records and ensuring compliance with the Companies Act 2016, Bursa Malaysia Listing Requirements (for listed companies), and the Malaysian Code on Corporate Governance. The resolution is typically used when the Audit Committee needs to make formal decisions about financial reporting, external auditor appointments, internal control systems, risk management frameworks, or compliance matters. It serves as an official record of the committee's deliberations and decisions, and often forms part of the company's corporate governance documentation that may be reviewed by regulators, auditors, or shareholders.
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1. Title and Date: Formal identification of the document as an Audit Committee Resolution with the date of the meeting
2. Present Members: List of Audit Committee members present at the meeting, noting independent directors and chairman
3. Quorum Confirmation: Statement confirming that the required quorum was present as per the committee's terms of reference
4. Notice and Meeting Details: Confirmation that proper notice was given and meeting procedures were followed
5. Background: Context and reasons for the resolution, including any relevant previous decisions or events
6. Resolutions: Clear statement of the decisions made by the committee, numbered if multiple resolutions
7. Voting Results: Record of how the committee voted on each resolution
8. Closure: Formal closing of the resolution including timing of implementation
9. Authentication: Signatures of the Chairman and Company Secretary, with company seal if required
1. Special Investigations: Details of any special audit investigations authorized, used when specific issues require investigation
2. Risk Assessment: Specific risk considerations and assessments, included when resolution involves risk management matters
3. External Auditor Matters: Specific sections relating to external auditor appointment, removal, or remuneration when relevant
4. Dissenting Opinions: Record of any dissenting views from committee members, included when there is no unanimous agreement
5. Related Party Transactions: Details of any related party transactions reviewed, included when such transactions are part of the resolution
1. Terms of Reference: Detailed terms of reference for the Audit Committee as required by Bursa Malaysia Listing Requirements
2. Supporting Documents: Relevant financial statements, audit reports, or other documents referenced in the resolution
3. Committee Charter: Current version of the Audit Committee Charter if referenced in the resolution
4. Compliance Checklist: Checklist confirming compliance with relevant regulatory requirements
5. Meeting Minutes: Extract of relevant meeting minutes if referenced in the resolution
Relevant legal definitions
Audit Committee
Board
Chairman
Committee Charter
Company
Company Secretary
External Auditor
Financial Statements
Financial Year
Independent Director
Internal Audit Function
Internal Control Systems
Listing Requirements
Management
Material Transaction
Meeting
Member
Quorum
Related Party
Related Party Transaction
Resolution
Risk Management Framework
Securities Commission
Terms of Reference
Board
Chairman
Committee Charter
Company
Company Secretary
External Auditor
Financial Statements
Financial Year
Independent Director
Internal Audit Function
Internal Control Systems
Listing Requirements
Management
Material Transaction
Meeting
Member
Quorum
Related Party
Related Party Transaction
Resolution
Risk Management Framework
Securities Commission
Terms of Reference
Clauses
Authority
Quorum and Voting
Financial Reporting
Internal Controls
Risk Management
External Audit
Internal Audit
Related Party Transactions
Compliance
Reporting Requirements
Meeting Procedures
Committee Composition
Independence Requirements
Confidentiality
Conflicts of Interest
Document Retention
Amendment Powers
Implementation Timeline
Review and Assessment
Regulatory Disclosure
Quorum and Voting
Financial Reporting
Internal Controls
Risk Management
External Audit
Internal Audit
Related Party Transactions
Compliance
Reporting Requirements
Meeting Procedures
Committee Composition
Independence Requirements
Confidentiality
Conflicts of Interest
Document Retention
Amendment Powers
Implementation Timeline
Review and Assessment
Regulatory Disclosure
Relevant Industries
Financial Services
Banking
Insurance
Manufacturing
Technology
Healthcare
Real Estate
Energy
Telecommunications
Retail
Mining
Construction
Transportation
Agriculture
Education
Relevant Teams
Board of Directors
Audit Committee
Internal Audit
Finance
Risk Management
Compliance
Legal
Corporate Secretarial
Corporate Governance
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Company Secretary
Board Chairman
Audit Committee Chairman
Independent Director
Non-Executive Director
Internal Audit Director
Risk Management Officer
Compliance Officer
Financial Controller
External Auditor
Corporate Governance Officer
Legal Counsel
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