SCC Holdings Berhad Annual Report 2018

SCC Holdings Berhad | Annual Report 2018 24. The Directors are required by the Companies Act 2016 to prepare financial statements for each financial year which have been made out in accordance with applicable approved accounting standards and to give a true and fair view of the state of affairs of the Group and the Company at the financial year end and of the results and cash flows of the Group and Company for the financial year. In preparing the financial statements, the Directors have carried out their responsibilities by: • adopting suitable accounting policies and applied them consistently; • making judgements and estimates that are reasonable and prudent; • ensuring that all applicable accounting standards have been complied with; and • preparing financial statements on a going concern basis, as the Board has reasonable expectations, having made enquiries, that the Group and Company have adequate resources to continue in operational existence for the foreseeable future. The Directors are responsible for ensuring that the Company keeps accounting records which disclose with reasonable accuracy the financial position of the Group and Company and which enable them to ensure that the financial statements comply with the Companies Act 2016. The Directors have the overall responsibility of taking such steps as are reasonably available to them to safeguard the assets of the Group, to prevent and detect fraud and other irregularities. Statement of Directors’ Responsibility for the Audited Financial Statements