Page 103 - URA Annual Report 2021-22

Committees
Audit Committee
Function Areas
• Internal control and risk management
• Reliability, integrity, timeliness and conformity of financial and operational information
• Compliance of business operations and management practices
• Economy, efficiency and effectiveness in the employment of URA’s resources
• Special projects and investigations
• Accounting policies
• External audit reviews and internal audit charter • Annual financial reporting and auditing
• To consider and deliberate on objections lodged under Section 24(1) of the URA Ordinance
• To prepare URA’s deliberations on the objections, which will be submitted to SDEV in accordance with Section 24(3)(b) of the URA Ordinance
• URA’s funding requirements
• Financial and treasury policies
• Investment of surplus funds
• Financial aspects of the Annual Business Plan and Five-year Corporate Plan
• Annual budgets
• Market selling prices and target rents of development projects
• Remuneration policies (level and mix) of senior and general staff • Proposals for adjustments to salary and variable pay
• Organisation effectiveness and human resources management
• Policies and matters relating to land grants, property acquisition, compensation and rehousing
• Acquisition strategies, approaches and offers for individual projects
• Policy and criteria for loans under Section 12 of the URA Ordinance
Development Project Objection Consideration Committee
Finance Committee
Human Resources and Remuneration Committee
Land, Rehousing and Compensation Committee
URA ANNUAL REPORT 2021-22 97
Corporate Governance