HKBN Ltd. released a revised Terms of Reference for its Audit Committee, detailing membership requirements, authority, and duties. The document, most recently updated on 31 October 2025, indicates that the Audit Committee comprises only non-executive directors. At least three members are required, the majority of whom must be independent non-executive directors, with at least one possessing professional accounting or related financial expertise.

The revised Terms of Reference highlight the Committee’s responsibilities in overseeing external auditors, including recommending their appointment and reviewing their independence and performance. The document also underscores the Committee’s role in monitoring the integrity of financial statements, annual and interim reporting, and the effectiveness of financial controls and internal control systems. In addition, the Audit Committee is tasked with coordinating internal and external audits, reviewing internal control findings, and ensuring that the internal audit function is properly resourced.

Frequency of meetings is set at no fewer than two per year, with the Committee empowered to request additional sessions and to meet separately with auditors when necessary. The document emphasizes the Committee’s authority to obtain professional advice and sufficient resources to fulfill its duties. Furthermore, it provides for a whistleblowing mechanism to independently investigate potential concerns relating to financial reporting or other issues.

The updated guidelines confirm that the Committee’s decisions and recommendations are reported to the Board, reflecting the importance HKBN Ltd. places on maintaining strong governance and transparent operations.