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REPORT OF THE TRUSTEE-MANAGER
OF FORTERRA TRUST
Audit Committee
The Audit Committee comprises four non-executive directors, all of whom are independent. The members
of the Audit Committee as at the date of this report are:
Peter Graham Sugden (Chairman of Audit Committee)
Dr. Tan Khee Giap
Yoon Wai Nam
Xu Sitao
The Audit Committee carried out its function in accordance with Regulation 13(6) of the Singapore
Business Trusts Regulations and the SGX-ST Listing Manual.
The Audit Committee held 7 meetings during the year. In performing its functions, the Audit Committee
met with the Trust’s external auditors and internal auditors to discuss the scope of their work, the results
of their examination and evaluation of the Group’s internal accounting control system.
The Audit Committee also reviewed the following:
• assistance provided by the Trustee-Manager’s officers to the internal and external auditors;
• quarterly financial information and annual financial statements of the Group and the Trust prior to
their submission to the directors of the Trustee-Manager for adoption;
• the annual budgets and other forecast financial information to assist in future planning;
• the scope of the internal audit work to be undertaken by the external third party appointed to
undertake the internal audit function;
• the policies and practices put in place by the Trustee-Manager to ensure compliance with applicable
laws, regulations, guidelines and constitutional documents of the Trust; and
• interested person transactions, hedging policies and internal policies and procedures.
The Audit Committee has full access to management and is given the resources required for it to discharge
its functions. It has full authority and the discretion to invite any director or executive officer of the
Trustee-Manager to attend its meetings. The Audit Committee also recommends the appointment of the
external auditors and reviews the level of audit and non-audit fees.
The Audit Committee is satisfied with the independence and objectivity of the external auditors and has
recommended to the Board of Directors, the nomination of Messrs KPMG LLP for re-appointment as
auditors of the Trust at the forthcoming Annual General Meeting of the Unitholders.
In appointing auditors for the Trust and its subsidiaries, we have complied with Rules 712 and 715 of the
SGX-ST Listing Manual.