AL-SALAM REIT ANNUAL REPORT 2018

AL-SALĀM REIT ANNUAL REPORT 2018 87 Directors’ Training All Directors have attended and completed the Mandatory Accreditation Programme prescribed by Bursa Securities, and the Board will continue to evaluate and determine the training needs of its Directors on an ongoing basis. Throughout the inancial year under review, the Directors attended various conferences, seminars and training programmes covering areas that included corporate governance, leadership, updates on REIT industry and global business developments. 1.3 Remuneration The remuneration of the Directors is paid by the Manager and not by the Fund. The remuneration of the Executive Director is structured based on linking rewards to corporate and individual performance. For Non-Executive Directors, they receive a basic fee, an additional fee for serving on any of the committees and an attendance fee for participation in meetings of the Board and any of the committee meetings. 2. Effective Audit And Risk Management 2.1 Audit Committee An efective Audit Committee will bring transparency, focus and independent judgment needed to oversee the inancial reporting process. The Audit Committee is chaired by Zainah binti Mustafa and comprises of 2 other members, Lukman bin Hj. Abu Bakar and Dr. Mohd Hafetz bin Ahmad. The Committeemeets on a scheduled basis at least 4 times a year. The composition of the Audit Committee, its terms of reference, attendance of meetings and duties and responsibilities are set out on page 80 and 89 of the Annual Report. The minutes of the Audit Committee meetings are tabled to the Board for notiication and further action by the Board, where necessary. Compliance with Applicable Financial Reporting Standards In presenting the annual inancial statements, annual report and quarterly announcements to Unitholders, the Board aims to present a balanced and understandable assessment of Al-Salām REIT’s inancial position, performance and prospects. The Board has taken the necessary steps to ensure that Al-Salām REIT had complied with all applicable Financial Reporting Standards and relevant provision of laws and regulations in Malaysia and the respective countries in which the subsidiaries operate, consistently and that the policies are supported by reasonable and prudent judgement and estimates. The Audit Committee assists the Board in ensuring both annual inancial statements and quarterly announcements are accurate and the preparation is consistent with the accounting policies adopted by Al-Salām REIT. Relationship with the External Auditors The Board through the Audit Committee has maintained a formal procedure of carrying out an independent review of quarterly reports, annual audited financial statements, External Auditor’s audit plan, report, internal control issues and procedures. The External Auditors are invited to attend Al-Salām REIT’s general meeting and are available to answer any questions from Unitholders on the conduct of the statutory audit and the contents of the Annual Audited Financial Statements. 10 th BOD Special BOD 11 th BOD 12 th BOD 13 th BOD 21.02.2018 19.04.2018 06.06.2018 13.09.2018 30.11.2018 Dato’ Kamaruzzaman bin Abu Kassim      Wan Azman bin Ismail      Zainah binti Mustafa      Dr. Mohd Hafetz bin Ahmad      Dato’ Dr. Rahah binti Ismail      Lukman bin Hj. Abu Bakar      Yusaini bin Hj. Sidek      Dato’ Amiruddin bin Abdul Satar      Mohd Yusof bin Ahmad     