UOB Annual Report 2002 - United Overseas Bank
UOB Annual Report 2002 - United Overseas Bank
UOB Annual Report 2002 - United Overseas Bank
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Directors’ <strong>Report</strong><br />
for the financial year ended 31 December <strong>2002</strong><br />
Audit Committee<br />
The Audit Committee comprises four members, all of whom are non-executive independent directors. The members of the Audit<br />
Committee are as follows:<br />
Mr Ernest Wong Yuen Weng (Chairman)<br />
Mr Philip Yeo Liat Kok<br />
Dr Cham Tao Soon<br />
Mr Tan Kok Quan<br />
In its report to the Board of Directors, the Audit Committee reports that it has reviewed with the <strong>Bank</strong>’s internal auditors their audit<br />
plan and the scope and results of the <strong>Bank</strong>’s internal audit procedures. The Audit Committee has also reviewed with the <strong>Bank</strong>’s<br />
auditors, PricewaterhouseCoopers, their audit plan, their evaluation of the system of internal accounting controls, their auditors’<br />
long-form report and the response of management thereto as well as their audit report on the financial statements of the <strong>Bank</strong> and<br />
the consolidated financial statements of the Group for the year ended 31 December <strong>2002</strong>. The financial statements of the <strong>Bank</strong> and<br />
the consolidated financial statements of the Group for the year ended 31 December <strong>2002</strong> have been reviewed by the Committee<br />
prior to their submission to the Board of Directors.<br />
The Audit Committee has reviewed the <strong>Bank</strong>’s position with regard to interested person transactions and the assistance given by the<br />
<strong>Bank</strong>’s officers to PricewaterhouseCoopers.<br />
The Audit Committee has also carried out the functions required of the Committee under the Code of Corporate Governance.<br />
At the date of this report, the Audit Committee is reviewing the nomination of a firm of certified public accountants for appointment<br />
as auditors of the <strong>Bank</strong> by shareholders at the forthcoming <strong>Annual</strong> General Meeting.<br />
On behalf of the directors<br />
Wee Cho Yaw<br />
Chairman<br />
Wee Ee Cheong<br />
Deputy Chairman<br />
28 February 2003<br />
88