| ACCOUNTABILITY
AND AUDIT Financial Reporting
The Board is aware of its responsibilities to
shareholders and the requirement to present a
balanced and comprehensive assessment of
the Group’s financial position and prospects.
In this regard, the Directors are responsible
for the preparation of financial statements that
give a true and fair view of the state of affairs
of the Group at the end of the financial year.
The Directors are responsible for keeping
proper accounting records, which disclose
with reasonable accuracy at any time the
financial position of the Group, to enable them
to ensure that the financial statements comply
with the Companies Act, 1965 and approved
Accounting Standards in Malaysia. The
Directors are also responsible for safeguarding
the assets of the Group and for taking
reasonable steps for the prevention and
detection of fraud and other irregularities.
Internal Control
The Statement on Internal Control on page 71
of the Annual Report provides an overview on
the state of internal control within the Group.
Risk Management
The report on Risk Management on page 69 to
70 of the Annual Report describes the
structure and process of risk management in
the Group.
Audit Committee
The details are shown in the accompanying
report of the Audit Committee on pages 64
and 65.
Internal Audit
The Group has established an Internal Audit
Division that reports to the Audit Committee.
The Audit Committee reviews and approves the
audit plan, which identifies the scope of work
for the year.
The Group Internal Auditor reports to the Audit
Committee.
Whistle-blowing Policy
As part of best practices in good corporate
governance, the Group established a “Whistleblowing”
policy.
This policy is to encourage employees to
report any major concerns over any
wrongdoing within the Group relating to
unlawful conducts, financial malpractices or
dangers to the public or the environment. In
this respect, the policy makes it clear that any
such concern can be raised without fear of
victimization, recrimination, discrimination or
disadvantage to the employee reporting the
concern. It provides a formal channel to
encourage and enable employees to report
serious concerns so that such concerns can
be properly addressed.
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