1.

Responsibility to the Board of Directors

Code a. The company shall have an audit committee of the board.
 Audit committee of MIDAS financing ltd works as the sub-committee of the board.It
effort to ensure implementation of the process set out in the business plan and policies
within its scope.

Code b. The audit committee shall assist the board in ensuring that the financial state of affairs
of the company and in ensuring a good monitoring system within the business.

 MIDAS audit committee is maintaining according to the code.

c. According to the code , MIDAS audit committee is responsible to the board and their
duties is in writing.

2. Constitution of the audit committee.

a) According to the code , audit committee shall be composed of at least 3 member and
MIDAS also maintain this rule. Their member are..
SI.NO: NAME OF MEMBER STATUS STATUS IN COMMITTEE
1. Mr.Ali Imam Majumder Independent director Chairman
2. Mr.M Hafizuddin khan Director Member
3. Ms.Rokia Afzal Rahman Chairman Member
4. Mr Siddiqur Rahman Independent Director Member
5. Mr Parveen Mahmud Director Member

b) According to the code MIDAS appointed non-executive directors-

Mr Ali Imam Majumder-Independent Director

Mr. Siddikur Rahman- Independent Director

And at least 1 independent director also appointed.

c) According to the rule , all members are financially literate and at least 1 person should
be accounting or financial management background and the key man is the Chairman of
the committee,Mr Ali Imam Majumder.
d) Company secretary Abdul Wadud is acting as a secretary of the committee.
e) In MIDAS there is two independent director in the committee as there should at least 2.

3. Chairperson of the audit committee:

a) According to the rule the committee has Mr.Ali Imam Majumder as a chairman , who is
an independent director .
 b) In absence of the chairperson of the audit committee, the remaining members elect
one of the member of the committee.
c) Mr.Ali Imam Majumder remain present in the AGM according to the report of the
AGM.

4. Meeting of the audit committee:

a) MIDAS conduct at least its four meeting in a financial year according to the rule.
b) According to the rule, MIDAS conducts its meeting in presence of at least one
independent director according to the profile of the meeting.