SCC Holdings Berhad Annual Report 2018

SCC Holdings Berhad | Annual Report 2018 18. SUMMARY OF ACTIVITIES (cont’d) Financial Reporting (cont’d) b. Reviewed the audited financial statements of the Company and Group prior to submission to the Board for consideration and approval. c. Ensured that the financial statements were drawn up in accordance with the provisions of the Companies Act 2016 and the applicable approved accounting standards by confirming with the Management. External Audit d. Evaluated the technical competencies, adequacy of specialist support and partners/directors accessibility and time commitment. e. Ascertained the independence of the external auditor with the auditors and confirmed their independence status before conducting the audit. f. Reviewed the external auditors’ scope of work, audit plan and strategy for the year. g. Reviewed with the external auditors, the results of the annual audit, audit report, including the management’s response. h. Met with the External Auditors two (2) times without the presence of the Executive Directors and the Management to discuss matters that need to be highlighted to the AC. i. Evaluated auditor’s performance and recommendations for re-appointment in AGM. Internal Audit j. Reviewed with the Internal Auditor, the internal audit plans, the internal audit reports, their evaluation of system of internal controls and the follow-up on the audit findings. k. Reviewed the adequacy of the scope and coverage of work and instructed specific audit area to be performed when needs arises. l. Received and discussed the internal audit reports after conclusion of every internal audit being carried out. Related Party Transactions m. Reviewed related party transactions within the Group on a quarterly basis. Others n. Reviewed the AC Report, Corporate Governance Statement and Statement on Risk Management and Internal Control prior to the submission of the said documents to the Board for consideration and approval so as to be included in the Annual Report for financial year ended 31 December 2018. AUDIT COMMITTEE REPORT (cont’d)