GOVERNANCE

AUDIT COMMITTEE REPORT

The Board of Directors of Bursa Malaysia presents the Audit Committee Report which provides insights into the manner in which the Audit Committee discharged its functions for the Group in 2014.

COMPOSITION AND ATTENDANCE

The Audit Committee (AC) comprises four members, all of whom are Non- Executive Directors (NEDs); three being Independent NEDs and one Public Interest Director (PID) who also satisfies the test of independence under Bursa Malaysia Securities Berhad's Main Market Listing Requirements (MMLR). This meets the requirements of paragraph 15.09(1)(a) and (b) of MMLR. The AC members and their attendance records are outlined in the Corporate Governance (CG) Statement.

The AC Chairman, Mr. Pushpanathan a/l S.A. Kanagarayar, is a member of the Institute of Chartered Accountants of Scotland, the Malaysian Institute of Accountants and the Malaysian Institute of Certified Public Accountants. Accordingly, Bursa Malaysia complies with paragraph 15.09(1)(c)(i) of MMLR. Mr. Pushpanathan a/l S.A. Kanagarayar was appointed Independent Non-Executive Director and AC Chairman on 23 June 2014, replacing Tan Sri Datuk Dr. Abdul Samad bin Haji Alias who retired as Independent Non-Executive Director at Bursa Malaysia's 37th Annual General Meeting (AGM) and ceased as AC Chairman on 27 March 2014. Prior to the appointment of Mr. Pushpanathan, an AC meeting held on 14 April 2014 was chaired by Datuk Dr. Syed Muhamad bin Syed Abdul Kadir.

The Board reviews the terms of office of the AC members and assesses the performance of the AC and its members through an annual Board Committee effectiveness evaluation. The Board is satisfied that the AC and its members discharged their functions, duties and responsibilities in accordance with the AC's Terms of Reference, supporting the Board in ensuring the Group upholds appropriate CG standards.