DESTINI Annual Report 2019

05 GOVERNANCE Composition The present members of the Audit Committee comprise the following: Chairperson Professor Datin Dr Suzana Binti Sulaiman @Mohd. Suleiman (Independent & Non-Executive Director) Member Dato’ Che Sulaiman Bin Shapie (Independent & Non-Executive Director) Past member Dato’ Megat Fairouz Junaidi Bin Tan Sri Megat Junid (Independent & Non-Executive Director) (Resigned on 1 May 2019) Mohd Noor Bin Hussen (Independent & Non-Executive Director) (Appointed on 3 January 2020 and resigned on 10 April 2020) From 1 January 2019 until 30 April 2019, the composition of the Audit Committee met the requirement of Paragraph 15.09 of the Listing Requirements of Bursa Securities, comprises of not fewer than 3 members. On 1May 2019, Dato’ Megat Fairouz Junaidi BinTan Sri Megat Junid resigned as the Chairman of the Audit Committee of the Company. Hence, the composition of the Audit Committee fell below 3 members pursuant to Paragraph 15.09(1)(a) of the Listing Requirements of Bursa Securities. From thereon, the Company had obtained several approval from Bursa Securities for an extension of time up to 15 January 2020 to comply with Paragraphs 15.09(1)(a) and 15.10 of the Listing Requirements of Bursa Securities. On 3 January 2020, the composition of the Audit Committee complied with the Paragraphs 15.09(1)(a) and 15.10 of the Listing Requirements of Bursa Securities after the re- designation of Professor Datin Dr Suzana Binti Sulaiman @ Mohd. Suleiman as Chairperson of the Audit Committee and the appointment of Mohd Noor Bin Hussen as member of the Audit Committee respectively. AUDITCOMMITTEE REPORT Attendance The Audit Committee held five ( 5 ) meetings during the financial year ended 31 December 2019. The details of attendance of the Audit Committee members are as follows: ** Member of Malaysian Institute of Accountants The Audit Committee may invite the Head of Internal Audit, the Accountant and the Company Secretary or any members of the management to attend any of its meetings as it determines. Financial Literacy of the Audit Committee Members Collectively, the members of the Audit Committee have the relevant experience and expertise in finance and accounting, and have carried out their duties in accordance with the Terms of Reference of the Audit Committee. The qualification and experience of the individual Audit Committee members are disclosed in the Directors’ Profiles of this Annual Report. Summary of Activities of the Audit Committee The activities undertaken by the Audit Committee during the financial year ended 31 December 2019 included the following: 1. Reviewed the quarterly and year–to-date unaudited financial results before submission to the Board for consideration and approval; 2. Reviewed the external auditor’s scope of work and audit plan for the year; 3. Reviewed the annual audited financial statements of the Group before recommending to the Board for their approval and release of the Group’s results to Bursa Securities; 4. Reviewed and discussed with the external auditors of their audit findings inclusive of system evaluation, audit fees, issues raised, audit recommendations and management’s response to these recommendations; Name of Directors No. of meetings attended Professor Datin Dr Suzana Binti Sulaiman @ Mohd Suleiman** 5/5 Dato’ Che Sulaiman Bin Shapie 5/5 Dato’ Megat Fairouz Junaidi Bin Tan Sri Megat Junid 2/2 DESTINI BERHAD 080