Page 42 - Interloop Annual Report 2018-2019

In addition to the Directors, following Management Executives also completed DTP, arranged by the company: and conversant with the policies and procedures of the company. The Board has outsourced the internal audit function
jointly to KPMG Taseer Hadi & Co. Chartered Accountants & Messers. Faran Associates who are considered suitably
• Azhar Sadiq Vice President experienced and qualified for the purpose and are conversant with the policies and procedures of the company.
• Feroze Ahmed Vice President
• Zain Sadiq Vice President 16. The statutory auditors of the company have confirmed that they have been given a satisfactory rating under the quality
• Faryal Sadiq Vice President control review program of the ICAP and registered with Audit Oversight Board of Pakistan, that they or any of the partners
• Aqeel Ahmad Asst. Vice President of the firm, their spouses and minor children do not hold shares of the company and that the firm and all its partners are in
• Khawaja Nadeem Abbas GM Finance compliance with International Federation of Accountants (IFAC) guidelines on code of ethics as adopted by the ICAP.
• Rana Ali Raza Company Secretary
• Jamshaid Iqbal D.G. M. Audit 17. The statutory auditors or the persons associated with them have not been appointed to provide other services except in
• Umer Javed D.G. M. Finance accordance with the Act, these regulations or any other regulatory requirement and the auditors have confirmed that they
• Rahat Naseem Deputy Manager Audit have observed IFAC guidelines in this regard.
10. The Board has approved appointment of CFO, Company Secretary and Head of Internal Audit, including their remuneration 18. We confirm that all other requirements of the Regulations have been complied with.
and terms and conditions of employment and complied with relevant requirements of the Regulations.
11. The CFO and CEO duly endorsed the financial statements before approval of the Board.

12. The Board has formed committees comprising of members given below:

a) Audit Committee
1. Tariq Iqbal Khan - Chairman (Independent Director)
2. Saeed Ahmad Jabal - Member (Independent Director)
3. Jahan Zeb Khan Banth - Member (Non-Executive Director) Faisalabad Navid Fazil Musadaq Zulqarnain
September 23, 2019 Chief Executive Officer Chairman / Director
b) HR and Remuneration Committee

1. Saeed Ahmad Jabal - Chairman (Independent Director)
2. Navid Fazil - Member (Executive Director)
3. Jahan Zeb Khan Banth - Member (Non-Executive Director)

c) Nomination Committee
1. Musadaq Zulqarnain - Chairman (Non-Executive Director)
2. Navid Fazil - Member (Executive Director)
3. Muhammad Maqsood - Member (Executive Director)

13. The terms of reference of the aforesaid committees have been formed, documented and advised to the committee for
compliance.

14. The frequency of meetings (quarterly/half yearly/ yearly) of the committee were as per following:

a) Audit Committee

The audit committee is performing its duties in line with its terms of reference as determined by the Board of Directors.
As the Company became listed during the last quarter of the fiscal year under consideration, therefore, only ONE Audit
Committee Meeting was held.

b) HR and Remuneration Committee

The Human Resource & Remuneration Committee is performing its duties in line with its terms of reference as determined
by the Board of Directors. During the year under review, ONE Human Resource & Remuneration Committee Meeting was 2018 - 19
Interloop Limited 15. The Board has set up an effective internal audit function which is considered suitably qualified, experienced for the purpose Annual Report
held.

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