Luzhou Bank Revamps Audit Committee Structure

Luzhou Bank Co., Ltd. Class H (HK:1983) has released an update.

Luzhou Bank Co., Ltd. has updated its Audit Committee’s Terms of Reference to enhance corporate governance and oversight as per regulatory standards. The committee will consist of three to five non-executive directors, with a majority being independent directors, and will exclude anyone with financial interest in the firm’s current audit partner within the last two years. Committee members, nominated by the nomination and remuneration committees, are expected to attend meetings, suggest issues for discussion, and ensure they are well-informed about the bank’s operations.

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