Deepexi Technology Co., Ltd. has released a new set of Terms of Reference for its Board Audit Committee, aiming to reinforce audit procedures, enhance Board supervision of management, and refine the company’s governance structure. According to the announcement, the Audit Committee comprises at least three directors, the majority of whom must be independent non-executive directors with relevant professional qualifications. The chairperson must also be an independent non-executive director with appropriate financial or accounting expertise. Committee members hold their positions for the same duration as the Board’s term.

The announcement highlights the Committee’s key responsibilities overseeing external and internal audits, financial oversight, internal controls, and risk management. Particular attention is placed on maintaining the independence of external auditors, reviewing the company’s financial statements, ensuring robust risk control measures, and meeting obligations under the Hong Kong Listing Rules. The Terms also specify arrangements for addressing potential improprieties and outline procedures for Committee meetings, including the requirement for confidentiality and protocols if a member must abstain from voting. These updated Terms of Reference take effect upon the necessary registration and filing, and any subsequent amendments require Board approval.