SECTION 1: AC COMPOSITION

42 | Audit Committee Guide 8. Other Matters 8.1 New ARC members should be briefed by the Board/ ARC Chairman on the ARC’s TOR. They should also be given an overview of the company’s risk governance structure, risk strategy and policy, risk management and internal control systems, and financial reporting policies. 8.2 ARC members must, as soon as possible, on appointment and subsequently, attend in-depth training on risk governance; risk management and internal controls; high-risk areas of the company such as cyber security, and safety and health risks; accounting and risk management concepts and standards that apply to the company; and other developments that are within the scope of the ARC. This will equip them with the necessary knowledge and skills to discharge their duties effectively. 8.3 At least once a year, the ARC shall review its own performance, constitution and TOR to ensure that it is operating at maximum effectiveness and recommend any changes which it considers necessary for Board approval.