CLP Holdings Limited has released an updated set of terms for its Audit & Risk Committee, effective 31 December 2025, detailing a broad range of responsibilities that include ensuring proper internal controls, overseeing compliance with accounting principles, and monitoring both financial and non-financial reporting. The committee also reviews and confirms the adequacy of scope for external and internal audits, assesses the independence of external auditors, and ensures compliance with legal and regulatory requirements. In addition, responsibility extends to risk management practices, corporate governance policies, and oversight of whistleblowing channels.
The committee comprises only independent Non-Executive Directors, with at least one member possessing financial expertise. As of 27 February 2026, the members are Chairperson: Ms. May Siew Boi Tan; and Members: Mr. Nicholas Charles Allen, Mr. Chunyuan Gu, Ms. Wang Xiaojun Heather, Mrs. Kung Yeung Yun Chi Ann, and Mr. Peter Wilhelm Hubert Brien. In the majority of meetings, the Chief Executive Officer, Chief Financial Officer, Internal Auditor, and external audit representatives are invited to attend.
The committee is authorized to investigate any activity within its remit and to seek required information from employees, directors, agents, or advisors. Its oversight includes regular reviews of internal audit procedures and exploring any significant findings, ensuring alignment with the company’s risk management framework, and reviewing major investigations on internal control matters. The committee approves the engagement terms of the External Auditor, reviews the quality of audit-related services, and takes steps to ensure auditor independence. Provisions are also in place to monitor the effectiveness of the whistleblowing policy, allowing employees and other stakeholders to report concerns confidentially for fair and independent inquiry.
Review of the company’s financial and non-financial statements, plus monitoring resources for accounting and risk management, are focal points. The committee confirms that duties concerning internal controls, risk management, and corporate governance practices are performed across the entire CLP Group. The arrangement is supported by open channels of communication with both management and audit entities, periodic reviews of internal and external audit findings, and strict adherence to relevant listing rules and guidelines.
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