BOARD AUDIT AND RISK COMMITTEE REPORT The Board Audit and Risk Committee (“BARC” or the “Committee”) plays a major role in corporate governance regarding the organisation’s direction, control and accountability. The BARC is set up with the primary objective to assist the Directors (the “Board”) in carrying out its duties and responsibilities in fulfilling its responsibility for oversight with respect to ensuring the integrity of the Company’s financial statements, performance of the Company’s independent auditors and internal audit function, risk management practices and internal control of the company. As a representative of the board of directors and main part of the corporate governance mechanism, the audit committee is involved in the organisation’s both internal and external audits, internal control, accounting and financial reporting, regulatory compliance and risk management. COMPOSITION For the financial year ended 31 December 2021, the BARC comprised of 3 (three) Directors, all of whom are also members of the Board of the Manager. The composition of the BARC is as follows: 1. Abdullah bin Abu Samah Chairman/Independent Non-Executive Director (appointed on 10 March 2021) 2. Zainah binti Mustafa Chairman/Independent Non-Executive Director (resigned on 10 March 2021) 3. Dato’ Wan Kamaruzaman bin Wan Ahmad Independent Non-Executive Director 4. Datuk Sr Akmal bin Ahmad Non-Independent Non-Executive Director (appointed on 29 December 2021) 5. Mohd Yusof bin Ahmad Non-Independent Non-Executive Director (resigned on 29 December 2021) On 29 December 2021, Mohd Yusof bin Ahmad resigned from being members of the BARC following his resignations as Non-Independent Non-Executive Director on the same date. Datuk Sr Akmal bin Ahmad, a Non-Independent Non-Executive Director was appointed as a member of the BARC effective 29 December 2021. The Board of Directors (the “Board”), via the Board Nomination and Remuneration Committee (“BNRC”), annually reviews the terms of office and performance of the BARC and its members through an effectiveness evaluation exercise. The BNRC assessed the BARC’s performance for the financial year ended 31 December 2021 and was satisfied that the BARC and its members have discharged their functions, duties and responsibilities in accordance with the BARC’s Terms of Reference. The duties and responsibilities of the BARC are set out in its Terms of Reference, which is accessible in the Corporate Governance section, on the website at www.alaqar.com.my 110 AL-`AQAR HEALTHCARE REIT ANNUAL REPORT 2021
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