Client : Comedic Ltd Prepared by: YOU Reviewed: ACS Year end 31 March 2018 Date: 26 March 2018 Subject Summary of what transpired at Audit Committee meeting - 22 February 2018 (Thee-Best-of-The-Lot Auditors Inc. was invited) a) All the members of the audit committee were in attendance. The following people were also invited: Audit partner - Tumi Morake, Audit manager - Loyiso Gola, newly appointed financial manager - Nic Rabinowitz and CEO - Trevor Noah. b) The CFO - John Vlismas was not invited due to the fact he is Tumi Morake's brother in law. The audit committee felt that it was best to not invite him in order to keep the proceedings as independent as possible. c) Tumi Morake highlighted the fact that Comedic was a very important client of theirs and would ensure that they received the best trainees and overall service. d) The Audit Committee chair - Barry Hilton, stated that he was aware that Tumi Morake was also the audit partner of Rubbery (Pty) Ltd, a competitor that Comedic is planning to take over in 2019. He joked by saying that Tumi Morake needs to provide inside information on the operations of Rubbery (Pty) Ltd. e) The Audit Committee requested that the audit firm complete and file tax returns on Comedic's behalf. f) The Audit committee extended an invitation to the entire audit team to attend the global rubber conference in Sihanoukville, Cambodia during the first week of April 2018. This was done to help the audit team understand