Annual Report 2022 77 ABOUT US LEADERSHIP PERSPECTIVE SUSTAINABILITY GOVERNANCE FINANCIAL STATEMENTS Other Information Statement on Risk Management and Internal Control 5. Discretionary Authority Limits The Discretionary Authority Limits (“DAL”) defines and covers delegation of responsibilities for existing transactions and newly identified proposed transactions to the Management and designated personnel for various aspects of operations in line with the Group’s strategies and risk appetite. The DAL will be reviewed from time to time in terms of suitability, relevance and applicability with business operations and activities. 6. Policies and Operating Procedures Policies and operating procedures governing the Group’s key businesses and operations are documented and approved by the Management or Heads of Department, as applicable. These policies and procedures provide guidance and direction for proper management and governance of operations and business activities. Continuous reviews are carried out on the adequacy, appropriateness and comprehensiveness of SOP developed to govern the business processes and activities of the Group, to ensure compliance with applicable laws and regulations as well as significant changes and development in business and operational environment. 7. Code of Conduct and Ethics for Directors The Code of Conduct and Ethics for Directors describe the standards of conduct and ethical behaviour for Directors in the performance and exercise of their duties and responsibilities as Directors of the Company or when representing the Company. The Group strongly believes that the appropriate standards of conduct and ethical behaviour are fundamental to the preservation of the Company’s reputation and the success of its operations and to the exercise of their duties and responsibilities as Directors of the Company. The Code of Conduct and Ethics for Directors is published on the Company’s website at www.datasonic.com.my. 8. Employee Business Conduct Guidelines The Employee Business Conduct Guidelines contains the code of conduct on the expected standards of business conduct for every employee who works for the Group or any of its affiliates in order for the Group to comply with the applicable laws and ethical standards to govern and ensure its long-term growth, development and sustenance of the Group. 9. Whistleblowing Policy Whistleblowing Policy established by the Board applies to the Directors and employees of the Group as part of the Group’s commitment to promote and maintain high standards of transparency, accountability and ethics in the conduct of its business and operations, with an established process for reporting anyone found to be abusing or circumventing processes and controls of the Group. All staff are accorded the opportunity to report via the whistleblowing mechanism with the assurance that the report will be dealt with confidentially and that the reporter’s identity is protected. In August 2021, the Board has approved the amendments made to the Whistleblowing Policy to be in conformity with the best practices and developments in applicable regulatory requirements. There is no report received throughout the financial year ended 31 March 2022 that warrant execution of the whistleblowing exercise. The Whistleblowing Policy is published on the Company’s website at www.datasonic. com.my. 10. Anti-Bribery and Anti-Corruption Policy and Manual The Anti-Bribery and Anti-Corruption (“ABAC”) Policy and Manual established set out the policies and protocols for the Group’s personnel, business associates and third parties intermediaries who perform or shall perform services and act on behalf of the Group and its subsidiaries to prevent acts of bribery and corruption. The Group has adopted a zero tolerance approach against all forms of bribery and corruptions and takes a strong stance against such acts. The Group is committed to conduct business dealings, relationships and operations with highest level of ethics and integrity and to comply fully with applicable laws and regulatory requirements related to corporate liability in terms of anti-bribery and anti-corruption. In August 2021, the Board has approved the amendments made to the ABAC Policy and subsequently in January 2022, the GMC has approved the Anti-Bribery Management System (“ABMS”) and Guidelines on Adequate Procedures (“GAP”) Manual, which serve as detailed guidelines supporting the approved policy. During the financial year ended 31 March 2022, the Group continues to appoint and collaborate with a consultant to assist in the implementation of related activities as outlined in the established policies and guidelines in order to comply adequately with the Ministerial Guidelines on Adequate Procedures and the implementation efforts are ongoing.
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