Excel Force MSC Berhad Annual Report 2015

E X C E L F O R C E M S C B E R H A D • A N N U A L R E P O R T 2 0 1 5 30 Review of the Statement by External Auditors As required by Paragraph 15.23 of the MMLR, the external auditors have reviewed this Statement on Risk Management and Internal Control. As set out in their terms of engagement, the procedures were performed in accordancewith Recommended PracticeGuide 5 (Revised) issued byMalaysian Institute of Accountants. Based on their procedures performed, the external auditor has reported to the Board that nothing has come to their attention that causes them to believe that this Statement is not prepared in all material respects, in accordance with the disclosures required by paragraphs 41 and 42 of the Guidelines, nor is it factually inaccurate. Conclusion For the financial year 31 December 2015 and up to the date of approval of this statement, the Board is of the opinion that the risk management and internal control system currently in place is adequate and effective to safeguard the Group’s interests and assets. The Board will continually assess the adequacy and effectiveness of the Group’s system of internal control and to strengthen it, as and when necessary. This statement is made in accordance with the resolution passed by the Board dated 22 March 2016. STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL (cont’d)