PD-1.3.4
The following information relating to corporate governance must be disclosed in the audited financial statements:
(a) Information about the Board structure (e.g. the size of the Board, Board committees) and the basic organisational structure (lines of business structure and legal entity structure);
(b) Information about the profession, business title, and experience in years of each Board member and the qualifications and experience in years of all heads of function ;
(c) Descriptive information on the managerial structure, including:
(i) Committees;
(ii) Segregation of duties;
(iii) Reporting lines; and
(iv) Responsibilities;
(d) Nature and extent of transactions with related parties (as defined by IFRS and AAOIFI as appropriate);
(e) Information about any changes in the structures (as mentioned in Subparagraphs PD-1.3.4(a) to PD-1.3.4(c)) from prior periods;
(f) The communications strategy approved by the Board (including the use of the licensee's website) which should undertake to perform at least the following:
(i) The disclosure of all relevant information to stakeholders on a periodic basis in a timely manner; and
(ii) The provision of at least the last three years of financial data on the licensee's website;
(g) Names of shareholders owning 5% or more and, if they act in concert, a description of the voting, shareholders' or other agreements among them relating to acting in concert, and of any other direct and indirect relationships among them or with the licensee or other shareholders; and
(h) Information on the directorships held by the directors on other boards.
January 2014