Annual Report 2022 69 ABOUT US LEADERSHIP PERSPECTIVE SUSTAINABILITY GOVERNANCE FINANCIAL STATEMENTS Other Information Audit Committee Report The assessment and evaluation processes covered the following areas:- i Independence and objectivity (a) Reviewed and discussed on the professional independence of the external auditors for the financial year ended 31 March 2022, which amongst others included assessments of the:- External auditors firm with emphasis on key professional staffs assigned to the external audit team to ensure their independence, competencies and objectivity in fact and appearance; The terms of the audit engagement partner and quality control partner on the issues of rotation requirements from the risks and best practice viewpoints; Measures to keep track of evolving best standards and practices in areas relating to independence and ethical rules to ensure continuous compliance, of the same; Detailed list of non-audit services rendered by the external auditors firm and related fees together with the pertinent information on the nature of the services undertaken focusing on the potential impact on the professional independence aspect. (b) The external auditors provided written assurances to the Audit Committee that they had continuously comply with the relevant ethical requirements regarding professional independence with respect to the audited financial statements of accounts of the Company and of the Group in accordance with their firm’s requirements and the provisions of the By-Laws on Professional Independence of the Malaysian Institute of Accountants. The external auditors also confirmed that the non-audit services provided to the Group during the year were in accordance with the independence requirements and had not compromise their independence as external auditors of the Company. (c) The Audit Committee reviewed the summary of non-audit services rendered to the Group, which mainly comprised of recurring assignments of non-audit services in respect of tax compliance, tax advisory, review of transfer pricing documents, agreed-upon procedures and the annual review of the Statement on Risk Management and Internal Control. The Group has incurred a total of approximately RM106,000 for non-audit services representing around 31% of total fees. ii. Performance, suitability and competencies The Audit Committee had assessed and evaluated the performance, suitability and competencies of the external auditors based on the following guidelines and criteria: Calibre of the external audit firm of international status, size and resources to conduct effective and constructive audits of listed issuers; Quality of processes and performance audit procedures, which cover quality control, the approach to seek and assess management representations, the approach to audit judgments and understanding of key issues and intricacies of the business operations, the bases and extent of reliance the external auditors place on management and the performance targets’ achievement of quality audits (i.e. audit scopes, audit plan, timing, etc.); Audit team with emphasis on the competencies, qualifications and experiences of the engagement partner, quality review partner, audit manager and audit seniors taking into consideration the matter of familiarities with DGB’s industry and complex operational activities;
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