Percentage Fixed vs Percentage Variable 80.43% 19.57% Salary/Fixed Allowance/Bonus Benefits-in-kind and Other Emoluments The Board is responsible for determining both the nature and extent of the Group’s risk management and internal control framework to ensure the Group remains resilient and sustainable. The BAEC and the BRC assist the Board in discharging its duties. Financial Reporting Financial procedures and standards have been put in place to assist the Board in discharging its duty of ensuring the Company maintains adequate and accurate records for purposes of timely reporting of its financial statements. For the financial year under review, no accounting irregularities were reported by either internal or external auditors. Accountability and Audit The Board is committed to provide a fair and objective assessment of the financial position and prospects of BIMB in the quarterly financial results, annual financial statements, Annual reports and all other reports or statements to shareholders, investors and other applicable regulatory authorities. Board Audit and Examination Committee (BAEC) The BAEC comprises three (3) members all of whom are Independent NEDs. The Chairman of the BAEC is not Chairman of the Board. None of the BAEC members is a former key audit partner. The BAEC provides sound advice to the Board on financial reporting, internal audits and the state of the Group’s risk and internal control environment. The BAEC also assists the Board in overseeing the Group’s external and internal audit functions and the relevant procedures to ensure compliance with the MMLR of Bursa Malaysia. The key activities and focus areas during the financial year under review are set out in the BAEC Report on pages 202 to 207 of this Integrated Annual Report. Risk Management and Internal Control The Board assumes responsibility for the effective management of risks across the Group, determining its risk appetite as well as ensuring the implementation of adequate and appropriate internal controls throughout the Group. In the discharge of this responsibility, the Board reviews its risk management and internal control procedures to ensure a sound system of risk management and internal control to safeguard shareholders’ investments and the assets of the Group. Whilst it is not possible to completely eliminate risks of failure in achieving the Group’s objectives, the system of internal control is designed to mitigate these risks by identifying, managing and controlling risks, including operational risks. The Board confirms that it has monitored the Group’s risk management and internal control system and that there is a process in place to identify, evaluate and manage significant risks faced by the Group. PRINCIPLE B EFFECTIVE AUDIT AND RISK MANAGEMENT Accountability Bank Islam Malaysia Berhad 195 01 05 03 07 02 06 09 04 08
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