Question 5 Rich Natural Resources (Rich) is a retail company planning to be listed on a stock exchange within the next six months. The management has been advised by the company's auditor about the need for compliance with corporate governance provisions. In particular, the Finance Director, James is looking to recruit Non Executive Directors (NED) as he understands that Rich will need to establish an audit committee. The director has two potential NED whom he is considering approaching to join the board of Rich. The first potential NED is Encik Zulkairi, who work as an executive marketing director of a listed multi-national construction company. Currently, he hold a post of NED in another two engineering companies in Kuala Lumpur and chaired many programmes outside and inside country related to construction industry One of the agreement remark by James is Encik Zulkairi agreed to being paid a fixed fee which is not related to profits. Second potential NED is Madam Sathiya who currently work as a finance director of a retail company. Recently, she was awarded as The best promising staff of 2020 due to her vast experience of twelve years as a financial leader in retail industry. She also expressed an interest in fixed ten years contract. She is a sister in-law.mof Rich's Managing Director (MD). Required: (a) Identify and explain briefly TWO (2) importance of establishing an audit committee to Rich Natural Resources. (4 marks) (b) Discuss ONE (1) advantage and disadvantage of appointing the following as Non-Executive Directors (NED) of Rich Natural Resources: i. Encik Zulkairi (8 marks) ii. Madam Sathiya (8 marks)