Gaoyu Finance Group Limited issued an updated Audit Committee Terms of Reference, originally established on 5 December 2016 and most recently updated on 25 November 2025. According to the announcement, the Audit Committee must consist of at least three non-executive members, the majority of whom are independent. One member is required to have professional accounting or financial management expertise, and a former partner of the existing auditing firm must observe a two-year cooling-off period before joining.

The document specifies that meetings should be held at least twice a year, and members may attend in person or via teleconference. The Committee has the authority to investigate any activity within its Terms of Reference, request necessary information from management, and obtain external professional advice. It also holds responsibility for reviewing and monitoring the external auditor’s independence and effectiveness, recommending appointment and removal of auditors, and ensuring the integrity of the Company’s financial statements and reports.

Further duties include examining the Company’s financial controls, risk management, and internal control systems. The scope covers finance, operations, compliance, and environmental, social, and governance risks. The document outlines the Committee’s obligation to ensure proper resources and training for the Company’s functions, coordinate internal and external audits, review accounting policies, and address external auditors’ queries. It also details procedures for confidential employee reporting of possible improprieties and requires reporting of the Committee’s decisions to the Board, except when restricted by regulatory requirements.