Datasonic Group Berhad Annual Report 2020

DATASONIC GROUP BERHAD I ANNUAL REPORT 2020 (Registration No. 200801008472 (809759-X)) 69 AUDIT COMMITTEE MEMBERS’ TRAINING Information on training programmes and seminars attended by each Audit Committee member during the financial year are set out in the Corporate Governance Overview Statement under “Directors’ Training”. THE PROCESS OF THE AUDIT COMMITTEE The Audit Committee meets at least four (4) times a year scheduled every quarter and will have no hesitation to convene additional meetings as the Audit Committee’s roles and responsibilities require. The Audit Committee may invite any employee of the Group to attend its meetings if appropriate, has access to any relevant form of advice from independent professionals, information and the views and services of the Company Secretary, as and when warranted in carrying out its duties and functions. The Audit Committee Chairman reports to the Board on a quarterly basis on all significant matters discussed, deliberated upon and dealt with at the Audit Committee meetings. Amongst others, it covers the Audit Committee’s recommendations to approve the quarterly Management Reports and Accounts, the quarterly consolidated financial results released to BursaMalaysia, the annual financial statements of accounts, key disclosure statements on governance and other relevant matters in the Annual Report as well as significant audit issues raised by the External Auditors and Internal Auditors, as applicable. The Audit Committee continuously reviews its Terms of Reference to reflect the updated internal processes of the Management and current requirements as promulgated by the authorities whenever necessary. The Terms of Reference of the Audit Committee is available for reference on the Company’s website at www.datasonic.com.my . A. SUMMARY OF ACTIVITIES OF THE AUDIT COMMITTEE FOR THE FINANCIAL YEAR ENDED 31 MARCH 2020 During the financial year, the Audit Committee has fully discharged its functions and duties as set out in its terms of reference. Summary of work and activities undertaken by the Audit Committee during the financial year comprised the following:- 1. Financial Reporting a. Reviewed the audited financial statements of accounts of the Group and of the Company for inclusion in the Annual Report as well as the related statutory auditors’ report prior to submission to the Board of Directors (“the Board”) for their consideration and approval, after ensuring that:- i. The audited financial statements were drawn up in accordance with the applicable Malaysian Financial Reporting Standards, International Financial Reporting Standards and the requirements of the Companies Act 2016 in Malaysia; ii. Key audit matters are properly presented in the auditors’ report based on the auditors’ professional judgement that such matters are most significant in their audit of the financial statements of accounts of the Group and of the Company for the current financial year; and iii. The audited annual financial statements of accounts do not contain any misstatement of transactions and the auditors are in a position to issue an unqualified opinion on the matter of truth and fairness of the financial performance and the financial position of the Company and of the Group. Audit Committee Report (Cont’d)