Asia Media Annual Report 2017

ASIA MEDIA GROUP BERHAD Annual Report 2017 43 C. SUMMARY OF ACTIVITIES DURING THE FINANCIAL YEAR The principal activities undertaken by the Audit Committee during the financial year are summarised as follows:- (1) Reviewed the unaudited quarterly financial results prior to submission to the Board for consideration and approval for the announcement to be released. (2) Reviewed the annual audited financial statements, Directors’ and Auditors’ Reports and other significant accounting issues arising from the audit of the financial year ended 31 December 2017. (3) Reviewed the Corporate Governance Statement, Audit Committee Report and Risk Management and Internal Control Statement prior to submission to the Board for approval and inclusion in the 2017 annual report. D. Internal Audit Function Summary of activities of internal audit department during financial year ended 31 december 2017 The Independent Internal Auditor performed audit visits to all relevant departments and subsidiary on a regular basis. The objectives of such visits are to determine whether adequate controls have been established and are operating in the Group. Internal Audit reports are issued to highlight any deficiency or findings requiring the management’s attention. Such reports include practical and cost effective recommendations as well as proposed corrective actions to be adopted by the management. The internal audit reports are then circulated to the Audit Committee for review and comments. Follow-up audits and review are then carried out to determine whether appropriate corrective actions have been taken by the management. This statement was made in accordance with a resolution of the Board dated 23 April 2018. AUDIT COMMITTEE REPORT (cont’d)