Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 196

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 6
Chunk 196
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 the contribution that the selected candidates will bring to our board.
 
Our directors have a balanced mix of knowledge and skills. We will have three independent directors with different industry backgrounds, representing a majority of the members of our board. Our board is well balanced and diversified in alignment with our business development and strategy.
 
Committees of the Board of Directors
 
We have established an audit committee, a compensation committee, and a nominating and corporate governance committee under the board of directors. We have adopted a charter for each of the three committees upon the establishment of the committees. Each committee’s members and functions are described below.
 
Audit Committee
 
Our audit committee consists of Ms. Leng, Mr. Shin, and Mr. Cheung, and is chaired by Ms. Leng. We have determined that each of these three director nominees satisfies the “independence” requirements of the Nasdaq Listing Rules and meets the independence standards under Rule 10A-3 under the Exchange Act. We have determined that Ms. Leng qualifies as an “audit committee financial expert.” The audit committee will oversee our accounting and financial reporting processes and the audits of our financial statements. The audit committee will be responsible for, among other things:

●                       selecting the independent registered public accounting firm and pre-approving                     
    all auditing and non-auditing services permitted to be performed by the independent registered public accounting firm;
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●                          reviewing with the independent registered public accounting firm any                       
                                audit problems or difficulties and management’s responses;                            
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●   reviewing and approving all proposed related party transactions, as                                               
    defined in Item 404 of Regulation S-K under the Securities Act;                                                   
●   discussing the annual audited financial statements with management                                                
    and the independent registered public accounting firm;                                                            
●   reviewing the adequacy and effectiveness of our accounting and internal                                           
    control policies and procedures and any special steps taken to monitor and control major financial risk exposures;
●   annually reviewing and reassessing the adequacy of our audit committee                                            
    charter;                                                                                                          
●   meeting separately and periodically with management and the independent                                           
    registered public accounting firm;                                                                                
●   monitoring compliance with our code of business conduct and ethics,                                               
    including reviewing the adequacy and effectiveness of our procedures to ensure proper compliance; and             
●   reporting regularly to the board.                                                                                 
Compensation Committee
 
Our compensation committee consists of Mr. Shin, Ms. Leng and Mr. Cheung, and is chaired