BOARD AUDIT AND RISK COMMITTEE REPORT MEETINGS AND ATTENDANCE NUMBER OF MEETINGS HELD AND DETAILS OF ATTENDANCE The BARC meets at quarterly intervals or such other intervals as the Committee shall decide. The BARC held four (4) regular meetings and two (2) special BARC meetings during the financial year ended 31 December 2021 which were attended by all members. During the financial year, the details of attendance are as follows:- TERMS OF REFERENCE The BARC has a set of Terms of Reference that guides the discharge of its roles and responsibilities. Details of the Terms of Reference are available on the corporate website. SUMMARY OF WORK CARRIED OUT DURING FINANCIAL YEAR The BARC held six meetings during FY2021. The meeting dates were predetermined in advance in order to ensure availability of each member. Meeting papers were circulated to all the Committee members prior to the meetings by way of electronic means and hard copy. The Committee carried out the following work during the financial year-end 31 December 2021 in the discharge of its functions and duties:- OVERSEEING FINANCIAL REPORTING (a) Reviewed the audited financial statements of the Manager and the Fund for the financial year ended 31 December 2021 (“FY2021”), which were prepared in accordance with the Trust Deed, the applicableSecuritiesCommissionMalaysia (“SC”) rules andguidelines,MalaysianFinancial Reporting Standards andMalaysian Financial Reporting Standards (“MFRS”), prior to recommending the same to the Board for approval. The audited financial statements of the Fund for FY2021 were issued and circulated to the Unitholders in line with the prescribed requirements. At the meeting held on 26 January 2022, the External Auditors presented to the BARC the results of the FY2021 audit conducted on Al-`Aqar where significant audit matters listed below are discussed: i. Valuation of investment properties ii. Recognition of deferred tax on investment properties iii. Expected credit losses of trade receivables iv. Going concern considerations No Name of Committee Member attended No of meetings 1 Abdullah bin Abu Samah (appointed on 10 March 2021) 5 out of 5 2 Dato’ Wan Kamaruzaman bin Wan Ahmad 6 out of 6 3 Datuk Sr Akmal bin Ahmad (appointed on 29 December 2021) - 4 Mohd Yusof bin Ahmad (resigned on 29 December 2021) 6 out of 6 GOVERNANCE STRUCTURE 111 E STRATEGIC PERFORMANCE FINANCIAL REPORTS CORPORATE OVERVIEW THE DRIVING FORCES SUSTAINABILITY STATEMENT
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