Audit Project Kevin Thomas

Kevin Thomas

Independence in mind 290.8

Should not participate in any aspect of management of the company

He know all the manger

Familiarily 290.135

Close Business Relationships With Assurance Clients 290.132

290.24 The objective of this section is to assist firms and members of assurance teams in:

(a) Identifying threats to independence;

(b) Evaluating whether these threats are clearly insignificant; and

(c) In cases when the threats are not clearly insignificant, identifying and applying appropriate safeguards to eliminate or reduce the threats to an acceptable level.

2 290.149

Gifts 290.213 ,350

self interest 340.1

http://www.cipe.org/regional/asia/china/role.htm

290.9 definition

A person cannot be a company’s auditor and a director at the same time (Companies Ordinance, section 140(2));

Kevin Thomas

Independence

The Board regularly assesses the independence of each Director. For this purpose an independent Director is a Non-Executive Director whom the Board considers to be independent of management and free of any business or other relationship that could materially interfere with the exercise of unfettered and independent judgment.

In addition to being required to conduct themselves in accordance with the ethical policies of the Group, Directors are required to be meticulous in their disclosure of any material contract or relationship in accordance with the Corporations Act and this disclosure extends to the interests of family companies and spouses. Directors are required to strictly adhere to the constraints on their participation and voting in relation to matters in which they may have an interest in accordance with the Corporations Act and the Group's policies.

Each Director may from time to time have personal dealings with the Group. Each Director is involved with other companies or professional firms which may from time to time have dealings with the Group. Details of offices held by Directors with other...