Company: KPEA
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002124
Chunk: 244

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 8
Chunk 244
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    reviewing
    and approving all proposed related party transactions;

    ●
    discussing
    the annual audited financial statements with the management; and

    ●
    meeting
    separately with the independent auditors to discuss critical accounting policies, management letters, recommendations on internal
    controls, the auditor’s engagement letter and independence letter and other material written communications between the independent
    auditors and the management.

Committees
of the Board of Directors

We
intend to establish the following committees:

Audit
Committee. The audit committee will consist of our independent directors and its duties will be to recommend to the Board
the engagement of independent auditors to audit our financial statements and to review our accounting and auditing principles. The audit
committee will review the scope, timing and fees for the annual audit and the results of audit examinations performed by the internal
auditors and independent public accountants, including their recommendations to improve the system of accounting and internal controls.
The audit committee will at all times be composed exclusively of directors who are, in the opinion of the Board, free from any relationship
which would interfere with the exercise of independent judgment as a committee member and who possess an understanding of financial statements
and generally accepted accounting principles.

Audit
Committee Financial Expert. The Board currently acts as our audit committee. The Board has not designated an “audit committee
financial expert” as defined in Regulation S-K and is seeking an additional director that is “independent” as that
term is used in Section 10A of the Exchange Act.

Audit
committee charter. At the time the Board of Directors creates an audit committee and approves and adopts an audit committee charter
(the “Proposed Audit Committee Charter”), the Board of Directors will include a provision in the Proposed Audit Committee
Charter regarding the previously approved and adopted Cybersecurity Policy. The Board of Directors will further approve that the Audit
Committee will have full authority and powers to implement the Cybersecurity Policy. The Audit Committee Charter will provide the members
of the Audit Committee with authorization and authority to conduct continuous analysis of and review for any potential cybersecurity
risks as part of the Company’s overall risk management program and to create a cyber-resilient organization, which will contribute
to the value preservation of the Company. The Audit Committee Charter will further provide authority and responsibility to the members
of the Audit Committee to: (i) understand the economic drivers and impact of cyber risk, including the financial impact to our Company;
(ii) align cyber-risk management policies with