the MMLR, the Company will hold a poll voting whenever general meetings to decide on related party transactions are held. Other forums for communication between the Company and shareholders are as follows:- • the Company’s other general meetings (if any); • quarterly financial statements and annual reports; • announcements on major developments to Bursa Securities; • the Company’s website at www.misc.com.my; and • quarterly briefing sessions between the Company’s Management and analysts and investors. Further details on the Company’s investor relations activities are provided in page 88 of this Annual Report. ACCOUNTABILITY AND AUDIT Financial Reporting The Board aims to present a balanced and meaningful assessment of the Group’s financial performance, position and prospects, primarily through the annual financial statements and quarterly announcements of results to the shareholders as well as the Chairman’s Statement and President/CEO’s Report on the business segment review in the Annual Report. The Board is assisted by the BAC to oversee the Group’s financial reporting processes and the quality of its financial reporting. Risk Management and Internal Control The Board acknowledges its overall responsibility for continuous maintenance of a sound risk management framework and internal control to safeguard shareholders’ investment and the Group’s assets. This principle is elaborated under the Statement on Risk Management and Internal Control by the Directors in pages 126 to 130 of this Annual Report. Relationship with the External Auditors The Board ensures that there are formal and transparent arrangements for the maintenance of an objective and professional relationship with the external auditors. The BAC had private meetings with the external auditors twice during the year under review without the presence of management personnel to discuss any matters that the BAC or the external auditors may wish to highlight. Code of Conduct and Business Ethics The Company observes its own Code of Conduct and Business Ethics (“CoBE”), including the Whistleblowing Policy and the No Gift Policy. The CoBE is applicable to all Directors, employees and third parties performing works or services for and on behalf of the Company. It governs the desired standard of behaviour and ethical conducts expected from each individual to whom the CoBE applies. The Company adopts the PETRONAS’ Anti-Bribery and Corruption Manual (“ABC Manual”), which applies to all Directors and employees of the Group as well as the Company’s agents and contractors. The ABC Manual supplements the CoBE and provides the basis on which the Company will be able to defend itself against any corruption charges that may be brought by any parties against the Company. p 123 MISC BERHAD - Annual Report 2014
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