Edit question In the Bursa Main Listing Requirement (BMLR), Chapter 15 sets out the requirements that must be complied with by a listed issuer and its directors with regard to corporate governance. Specifically, the members of an audit committee must elect a chairman among themselves who is an independent director. The audit committee must have written terms of reference which deal with its authority and duties, and such information must be made available on the listed issuers website. In addition, the listed issuer must ensure that other directors and employees attend any particular audit committee meeting only at the audit committees invitation, specific to the relevant meeting. In order to form a quorum in respect of a meeting of an audit committee, the majority of members present must be independent directors.

Question: Advise the following:

A) Quorum of an audit committee.

B) Vacancy arises out of retirement or resignation of audit committee.