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Datasonic Group Berhad
(Company No. 809759-X)
47
AUDIT COMMITTEE REPORT
(Continued)
A. SUMMARY OF ACTIVITIES OF THE AUDIT COMMITTEE FOR THE FINANCIAL YEAR ENDED 31
MARCH 2016 (CONT’D)
3.
Internal Auditors (cont’d)
d.
Reviewed the progress and activities of the Internal Audit functions on a quarterly basis
which covered the following aspects:-
i.
The status of completion of planned audit assignments and other compliancematters
as per the approved Audit Planning Memorandum.
ii.
Any request for modification to the approved Audit Planning Memorandum to cater
for ad-hoc audit assignments requested by theManagement / Executive Committee
or significant changes in the business and corporate development, as applicable.
iii.
Adequacy of resources and competencies in regard to the Internal Audit’s
management.
iv.
Significant matters / issues / challenges faced in the conduct of audit work.
4.
Risk Management
a.
Reviewed the development status of risk management processes and activities of the
Group subsequent to the adoption of the Enterprise Risk Management Framework
which was approved by the Board in the previous year. The recent appointments of Risk
Facilitators in February 2016 whose task to assist in the identification and compilation of
significant risks faced by the Group in collaboration with the Risk Owners and thereafter
report such risks accordingly to the Executive Committee. The significant risks would
subsequently be presented by the Executive Committee to the Board for its notation on
yearly basis.
5.
Corporate Governance and Compliance
a.
Reviewed the published annual report of the Company which encompasses all relevant
disclosure statements as set out in Part A of Appendix 9C of the MMLR.
b.
Reviewed the procedures which had been put in place governing recurrent and other
related party transaction of the Company.
c.
Reviewed with the assistance of the Internal Audit Department on a quarterly basis to
determine the presence of any related party transaction to ensure compliance with the
MMLR of Bursa Malaysia and the internal procedures in place.
d.
Discussed and noted the updates on regulatory requirements issued by the regulatory,
statutory and professional bodies and relevant business news articles published by the
mass media considered to be of interests to Board members.