Page 54 - Honeywell Annual Report 2021 comm 10 09 v17a.cdr

Audit Committee Report

In compliance with the provisions of Section 404(7) of the Companies and Allied Matters Act 2020, we the members
of the Audit Committee of Honeywell Flour Mills Plc received the Audited Financial Statements for the year ended 31
March 2021 together with Management Control Report from the external auditors and management responses
thereto at a duly convened meeting of the Committee and hereby report as follows:

We confirm that:

a. We reviewed the scope and planning of the audit requirements;
b. We reviewed the external auditors' Management Control Report together with Management Responses; and

c. We have ascertained that the accounting and reporting policies of the company for the year ended 31 March,
2021 are in accordance with legal requirements and agreed ethical practices.

In our opinion, the scope and planning of the audit for the year ended 31 March, 2021 was adequate and Management
Responses to the auditors' findings were satisfactory.

We confirm that the internal control system was being consistently and effectively monitored through effective
internal Audit.

The External Auditors confirmed that they received full co-operation from the management during the course of
the statutory audit.

The Committee therefore recommends that the Audited Financial Statements for the year ended 31 March, 2021
and the External Auditors' Report thereon be presented for adoption at the Annual General Meeting.

Dated: 25 May, 2021

Mr Adebayo Adeleke
Chairman, Audit Committee
FRC/2013/NIM/00000002317

Members of the Audit Committee
Mr. Adebayo Adeleke Shareholder/Chairman
Mr. Emmanuel Omole Shareholder
Mrs. Morenike Omilabu Shareholder
Mr. Theophilus .O. Sokunbi Director
Mr. Andrew Smith- Maxwell Director
Mrs Wonuola Adetayo Director

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