Corporate Governance Report

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Intended Outcome
There is an effective and independent Audit Committee.

The board is able to objectively review the Audit Committee’s findings and recommendations. The company’s financial statement is a reliable source of information.

Practice 8.2
The Audit Committee has a policy that requires a former key audit partner to observe a cooling-off period of at least two years before being appointed as a member of the Audit Committee.

Application Applied
Explanation on application of the practice The Board views the importance of independence of its external auditors and that no possible conflict of interest should arise.

Currently, none of the members of the Board and the Audit Committee were former key audit partners partner.

The Board will observe a cooling‐off period of at least two (2) years before a former key audit partner is to be appointed as a member.

Explanation for departure  
 
Large companies are required to complete the columns below. Non-large companies are encouraged to complete the columns below.
Measure  
Timeframe    

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