Datasonic Group Berhad Annual Report 2020

DATASONIC GROUP BERHAD I ANNUAL REPORT 2020 (Registration No. 200801008472 (809759-X)) 76 B. INTERNAL AUDIT department (cont’d) e. Review the minutes of Board and Board Committees meetings, Management meetings and key working groups established in the Group; f. Review relevant reports and materials highlighted and deliberated in Management meetings held throughout the year; and g. Review the recent strategic business exercises/activities initiated by the Board and the Management (e.g. corporate strategy engagement session, proposed acquisition, incorporation of new subsidiaries or business processes/key activities). The results of the audits performed by IAD were reviewed by the Audit Committee. The Internal Audit reports were also presented and discussed at the Management Committee meetings with a concentration on matters of disputable findings and audit recommendations/corrective measures for appropriate resolutions prior to the Audit Committee meetings. The relevant Management members were made responsible to ensure the committed corrective actions were implemented within the committed timeframes. IAD conducted follow-up audits on the key findings to ensure that the corrective actions were implemented appropriately and as committed. As at June 2020, the IAD is staffed with 6 personnel and all internal auditors possess tertiary qualifications with number of years of audit and work experience. The internal auditors are encouraged to continuously enhance their knowledge, skills and competencies through relevant professional audit certifications and always kept abreast of development in the profession and industry through continuous trainings and development activities appropriate to their respective levels. The Audit Committee remained satisfied that the IAD had sufficient resources during the financial year to undertake its duties effectively and able to function independently. The total costs incurred by the IAD in discharging its roles and responsibilities for the working period of the financial year ended 31 March 2020 amounted to approximately RM508,000. This Report was made in accordance with the resolution of the Board of Directors passed on 15 July 2020. Audit Committee Report (Cont’d)