The 22^nd meeting of the first term Board of Audit Committee was held on Oct. 27^th, 2016 at Fulian Building, Quanzhou. The committee chairman – Mr. Warren Wilder, committee members – Mr. Chen Xiaobo, Mr. Xu Jianping, Mr. Scott Sullivan and Mr. Bill Keillor FREP Board director, FREP supervisor – Mr. Yang Hongbin attended the meeting.

FREP Internal Auditing, the management representatives, External Audit Organization reported internal audit activities/ plan, internal controls, follow-up on audit issues, policy violations, external audit plan/strategy and etc. these items were fully discussed and reviewed by the meeting, which recognized the work of risk management and internal control by the Internal Auditing and the management. Meanwhile, it was required that FREP should enhance review of compliance of laws/regulations, make sure all closed control weaknesses be essentially closed, and avoid occurrence of repeated issues by means of accountability.

The meeting reviewed and approved “Internal Auditing Work Plan and Staffing Plan for 2017”.(Xu Juan)