{"id":13279,"date":"2023-01-01T08:18:29","date_gmt":"2023-01-01T08:18:29","guid":{"rendered":"https:\/\/ail.atlas.pk?page_id=13279"},"modified":"2023-04-03T20:50:26","modified_gmt":"2023-04-03T15:50:26","slug":"audit-committee","status":"publish","type":"page","link":"https:\/\/ail.atlas.pk\/ur\/audit-committee\/","title":{"rendered":"\u0627\u0653\u0688\u0679 \u06a9\u0645\u06cc\u0679\u06cc"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"13279\" class=\"elementor elementor-13279 elementor-7635\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b680031 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b680031\" data-element_type=\"section\" data-settings=\"{&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wide\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ed077af\" data-id=\"ed077af\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ec462e5 elementor-widget elementor-widget-elementskit-heading\" data-id=\"ec462e5\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"elementskit-heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" ><div class=\"ekit-heading elementskit-section-title-wraper text_left   ekit_heading_tablet-   ekit_heading_mobile-\">\t\t\t\t<div class='ekit-heading__description'>\n\t\t\t\t\t<p>The Committee consists of three non-executive directors, presided by an independent director. The Audit Committee is responsible for assisting the Board in discharging its responsibilities in relation to the disclosure of the financial affairs of the Company. The Committee focuses in particular on compliance with accounting policies and ensuring that an effective system of internal financial control is maintained.<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f2d698a elementor-widget elementor-widget-elementskit-heading\" data-id=\"f2d698a\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"elementskit-heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" ><div class=\"ekit-heading elementskit-section-title-wraper text_left   ekit_heading_tablet-   ekit_heading_mobile-\">\t\t\t\t<div class='ekit-heading__description'>\n\t\t\t\t\t<p>The ultimate responsibility for approving the annual and interim financial statements, remains with the Board. The terms of reference of the Audit Committee have been determined by the Board in accordance with the Code of Corporate Governance consisting on the following:<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-093e452 elementor-widget elementor-widget-elementskit-heading\" data-id=\"093e452\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"elementskit-heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" ><div class=\"ekit-heading elementskit-section-title-wraper text_left   ekit_heading_tablet-   ekit_heading_mobile-\">\t\t\t\t<div class='ekit-heading__description'>\n\t\t\t\t\t<ol class=\"terrorism-list\">\n<li>Determination of appropriate measures to safeguard the Company\u2019s assets;<\/li>\n<li>Review of annual and interim financial statements of the Company, prior to their approval by the Board, focusing on:\n<ul>\n<li>major judgmental areas;<\/li>\n<li>significant adjustments resulting from the audit;<\/li>\n<li>going concern assumption;<\/li>\n<li>any changes in accounting policies and practices;<\/li>\n<li>compliance with applicable accounting standards;<\/li>\n<li>compliance with these regulations and other statutory and regulatory requirements; and<\/li>\n<li>all related party transactions.<\/li>\n<\/ul>\n<\/li>\n<li>Review of preliminary announcements of results prior to external communication and publication;<\/li>\n<li>Facilitating the external audit and discussion with external auditors of major observations arising from interim and final audits and any matter that the auditors may wish to highlight (in the absence of management, where necessary);<\/li>\n<li>Review of management letter issued by external auditors and management\u2019s response thereto;<\/li>\n<li>Ensuring coordination between the internal and external auditors of the Company;<\/li>\n<li>Review of the scope and extent of internal audit, audit plan, reporting framework, and procedures and ensuring that the internal audit function has adequate resources and is appropriately placed within the Company;<\/li>\n<li>Consideration of major findings of internal investigations of activities characterized by fraud, corruption, and abuse of power and management\u2019s response thereto;<\/li>\n<li>Ascertaining that the internal control systems including financial and operational controls, accounting systems for timely and appropriate recording of purchases and sales, receipts and payments, assets and liabilities, and the reporting structure are adequate and effective;<\/li>\n<li>Review of the Company\u2019s statement on internal control systems prior to endorsement by the Board and internal audit reports;<\/li>\n<li>Instituting special projects, value for money studies, or other investigations on any matter specified by the Board, in consultation with the Chief Executive Officer and to consider remittance of any matter to the external auditors or to any other external body;<\/li>\n<li>Determination of compliance with relevant statutory requirements;<\/li>\n<li>Monitoring compliance with these regulations and identification of significant violations thereof;<\/li>\n<li>Review of arrangement for staff and management to report to Audit Committee in confidence, concerns, if any, about actual or potential improprieties in financial and other matters and recommend instituting remedial and mitigating measures;<\/li>\n<li>Recommend to the Board the appointment of external auditors, their removal, audit fees, and the provision of any service permissible to be rendered to the Company by the external auditors in addition to the audit of its financial statements. The Board shall give due consideration to the recommendations of the audit committee and where it acts otherwise it shall record the reasons thereof.<\/li>\n<li>Consideration of any other issue or matter as may be assigned by the Board. Four meetings of the Committee were held during the year.<\/li>\n<\/ol>\n\t\t\t\t<\/div>\n\t\t\t<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-330f510 cta elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"330f510\" data-element_type=\"section\" data-settings=\"{&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-75dcec8 cta\" data-id=\"75dcec8\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-871dfb8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"871dfb8\" data-element_type=\"section\" data-settings=\"{&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-9fece0d\" data-id=\"9fece0d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b367215 elementor-widget elementor-widget-text-editor\" data-id=\"b367215\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"color: #fff;\">\u0627\u0633 \u062d\u0648\u0627\u0644\u06d2 \u0633\u06d2 \u0627\u06af\u0631 \u0627\u0653\u067e \u06a9\u0627 \u06a9\u0648\u0626\u06cc \u0633\u0648\u0627\u0644\u060c \u0627\u0653\u0631\u0627\u0621 \u06cc\u0627 \u0631\u062f\u0650 \u0639\u0645\u0644 \u06c1\u0648 \u062a\u0648 \u06c1\u0645\u06cc\u06ba \u0627\u0653\u06af\u0627\u06c1 \u06a9\u06cc\u062c\u06cc\u06d2<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-2608721\" data-id=\"2608721\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1ef9bb1 elementor-align-left elementor-align--mobilecenter elementor-align--tabletcenter elementor-widget elementor-widget-elementskit-button\" data-id=\"1ef9bb1\" 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class=\"ekit-heading--title elementskit-section-title \">\u0645\u0632\u06cc\u062f \u0645\u0639\u0644\u0648\u0645\u0627\u062a \u06c1\u0645\u0627\u0631\u06d2 \u0646\u0645\u0627\u0626\u0646\u062f\u06d2 \u0633\u06d2 \u062d\u0627\u0635\u0644 \u06a9\u06cc\u062c\u06cc\u06d2\u06d4 <\/h2><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-fa17caa elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"fa17caa\" data-element_type=\"section\" data-settings=\"{&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-5321524 ekit-signup\" data-id=\"5321524\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8862124 elementor-absolute elementor-align-center elementor-widget elementor-widget-elementskit-button\" data-id=\"8862124\" data-element_type=\"widget\" data-settings=\"{&quot;_position&quot;:&quot;absolute&quot;,&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"elementskit-button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" >\t\t<div class=\"ekit-btn-wraper\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/ail.atlas.pk\/ur\/index.php\/contact\/\" target=\"_blank\" class=\"elementskit-btn  whitespace--normal\" id=\"\">\n\t\t\t\t\t\u0631\u0627\u0628\u0637\u06c1 \u06a9\u06cc\u062c\u06cc\u06d2\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n        <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-9374729\" data-id=\"9374729\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b6a8fd5 ekit-equal-height-disable elementor-widget elementor-widget-elementskit-icon-box\" data-id=\"b6a8fd5\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"elementskit-icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" >        <!-- link opening -->\n                <a href=\"tel:(042)%20111%20245%20000\" class=\"ekit_global_links\">\n                <!-- end link opening -->\n\n        <div class=\"elementskit-infobox text- text-left icon-lef-right-aligin elementor-animation- media  \">\n       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data-element_type=\"widget\" data-settings=\"{&quot;_position&quot;:&quot;absolute&quot;,&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>\u06cc\u0627<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The Committee consists of three non-executive directors, presided by an independent director. The Audit Committee is responsible for assisting the Board in discharging its responsibilities in relation to the disclosure of the financial affairs of the Company. The Committee focuses in particular on compliance with accounting policies and ensuring that an effective system of internal [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template\/full-width-template.php","meta":{"footnotes":""},"class_list":["post-13279","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/ail.atlas.pk\/ur\/wp-json\/wp\/v2\/pages\/13279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ail.atlas.pk\/ur\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/ail.atlas.pk\/ur\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/ail.atlas.pk\/ur\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ail.atlas.pk\/ur\/wp-json\/wp\/v2\/comments?post=13279"}],"version-history":[{"count":30,"href":"https:\/\/ail.atlas.pk\/ur\/wp-json\/wp\/v2\/pages\/13279\/revisions"}],"predecessor-version":[{"id":18778,"href":"https:\/\/ail.atlas.pk\/ur\/wp-json\/wp\/v2\/pages\/13279\/revisions\/18778"}],"wp:attachment":[{"href":"https:\/\/ail.atlas.pk\/ur\/wp-json\/wp\/v2\/media?parent=13279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}