PAX Global Strengthens Audit Committee Governance Framework

The latest update is out from PAX Global Technology ( (HK:0327) ).

PAX Global Technology Limited has updated and formalised the Terms of Reference for its Audit Committee to align with Hong Kong’s Corporate Governance Code and Listing Rules. The revised framework defines the committee’s composition, requiring at least three non-executive directors with a majority being independent and at least one possessing professional accounting or financial expertise, and sets restrictions on former partners of the external auditor joining the committee. It also clarifies the committee’s authority to investigate company activities, inspect group financial records, obtain information from relevant parties, and seek independent professional advice, while designating secretarial support and ensuring adequate resources. These changes underscore the company’s emphasis on robust audit oversight, greater independence in handling external auditors, and enhanced transparency and governance, which are material to shareholders and other stakeholders concerned with financial reporting integrity and risk management.

The most recent analyst rating on (HK:0327) stock is a Hold with a HK$6.50 price target. To see the full list of analyst forecasts on PAX Global Technology stock, see the HK:0327 Stock Forecast page.

More about PAX Global Technology

PAX Global Technology Limited is a Hong Kong-listed company incorporated in Bermuda, operating in the financial technology sector with a focus on electronic payment solutions and related services. The company is governed by a board comprising executive and non-executive directors, and adheres to the Corporate Governance Code under the Hong Kong Listing Rules.

Average Trading Volume: 3,192,218

Technical Sentiment Signal: Buy

Current Market Cap: HK$5.47B

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