GHL System Berhad Annual Report 2018

a n n u a l r e p o r t 2 0 1 8 49 OTHER STAT EMENTS AND D I SC LOSURE 1. MATERIAL CONTRACT No material contract has been entered into by the Group which involved Directors’ and/or substantial shareholders’ interest during FY 2018 or if not then subsisting, entered into since the end of previous financial year. 2. AUDIT AND NON-AUDIT FEE The amount of audit and non-audit fees incurred for services rendered by the Auditors of the Company, BDO PLT, to the Group and the Company respectively for the financial year ended 31 December 2018 were as follows:- Group 2018 RM Company 2018 RM Audit Fee 477,940 109,000 Non-Audit Fee* 146,655 136,655 Total 624,595 245,655 Note: * The non-audit fees from BDO PLT is in relation to review Statement of Risk Management and Internal Control, due diligence on potential investments, advisory on accounting standards MFRS and briefing on tax standards. 3. DIRECTOR RESPONSIBILITY STATEMENT The Directors are required by the Companies Act 2016 to prepare financial statements for each financial year which gives a true and fair view of the financial position and the cash flows of the Group and of the Company as at the financial year end. The Directors consider that, in preparing the financial statements of GHL Systems Berhad for the financial year ended 31 December 2018, the Group has used appropriate accounting policies, consistently applied and supported by reasonable and prudent judgements and estimates. The Directors also consider that all applicable Financial Reporting Standards in Malaysia have been followed and confirmed that the financial statements have been prepared on a going concern basis. The Directors are responsible for ensuring that the Group and the Company keep accounting records which disclose, with reasonable accuracy, the financial position of the Group and the Company at any time and which enable them to ensure that the financial statements comply with the provisions of the Companies Act 2016. The Directors are responsible for taking steps reasonably available to them to safeguard the assets of the Group and to prevent and detect fraud as well as other irregularities.