48 GHL SYSTEMS BERHAD 199401007361 (293040-D) ANNUAL REPORT 2022 46.."3: 0' "$5*7*5*&4 %63*/( '*/"/$*"- :&"3 &/%&% %&$&.#&3 (Cont’d) &YUFSOBM "VEJU (Cont’d) c. Reviewed and discussed with the External Auditors the results, reports, and financial statements of the Group. d. Reviewed and discussed with the External Auditors the issues highlighted in the management letter as well as the response from the Management and ensured, necessary corrective actions had been taken by the Management. The ARC also considered the External Auditors’ suggestions on improving the accounting procedures and internal control measures. e. Reviewed and approved the non-audit fees for services rendered by External Auditors to ensure they are in line with the Group Policy Statement on Auditor Independence. During FY2022, non-audit services rendered by the External Auditors for the Group amounted to RM36,692 (2021: RM30,118) for the review of Statement of Risk Management and Internal Control, verification of renovation costs, tax compliance, verification of information for submission of Compliance Self-Declaration of GHL Systems Berhad to Malaysia Digital Economy Corporation and determination of the effective date of the GITA incentive. f. Reviewed the performance of the External Auditor by conducting an evaluation encompassing technical competencies; partners/directors accessibility and time commitment; independence and objectivity; audit scope and planning; audit communications; and recommended to the Board on the re-appointment of BDO PLT as External Auditors. 3JTL .BOBHFNFOU BOE *OUFSOBM $POUSPM a. Reviewed the Corporate Risk Profile (“CRP”) reported by the RMC that summarises the key risks of Risk and Control Self-Assessment (“RCSA”) review, Information Technology Self-Assessment (“ITSA”) review and emerging risks of the Group. b. Reviewed the action plans by Risk Management Committee (“RMC”) to ensure significant internal controls are promptly and timely implemented to mitigate the key risks identified. c. Together with the Group CEO, Group CFO, and Group CRO reviewed the results of work performed by the Internal Auditors, External Auditors, and the RMC and evaluated the overall adequacy and effectiveness of the system of internal controls during the financial year. d. Received updates from the Management on matters relating to the impact of COVID-19 pandemic on the Group’s business and noted that the Group has relevant internal controls and various mechanisms in place to manage the impact of the pandemic in order to ensure continuity of business operations. e. Reviewed and approved the revisions to the Group’s Enterprise Risk Management (“ERM”) framework to ensure the risk management remains robust and align with the Group’s strategic plan and objectives. *OUFSOBM "VEJU a. Reviewed and assessed the adequacy of resources and reporting structure of Group Internal Audit (“GIA”) to ensure the audit plan is executed effectively and independently. b. Reviewed the competency of GIA to ensure GIA are provided with adequate trainings and guidance to possess the required skill sets and knowledge. c. Reviewed the annual internal audit plan to ensure adequacy of scope and coverage to ensure that high risk areas were audited on a regular basis. d. Reviewed the status of internal audit plan during each meeting. e. Discussed the major internal audit findings, weaknesses, and significant internal audit matters raised by the GIA. The ARC also sought the Management’s commitment for corrective actions as recommended in internal audit reports. AUDIT AND RISK COMMITTEE REPORT CONT’D
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