Company’s subsidiary Description Chairman Non-Executive Director (a) Dagang Net Technologies Sdn. Bhd. RM48,000.00 per annum RM24,000.00 per annum (b) SilTerra Malaysia Sdn. Bhd. RM72,000.00 per annum RM54,000.00 per annum (c) Ping USD30,000.00 per annum USD20,000.00 per annum (d) Innovation Associates Consulting Sdn. Bhd. RM60,000.00 per annum RM60,000.00 per annum The details of remuneration for the Directors and senior management of the Group during the financial year ended 30 June 2022 are set out in the Corporate Governance Report. 5. UPHOLD INTEGRITY IN FINANCIAL REPORTING 5.1 Compliance with Applicable Financial Reporting Standards The financial statements of the Group and the Company were prepared under the historical cost convention and modified to include other bases of valuation as disclosed therein under significant accounting policies, and in compliance with the Malaysian Financial Reporting Standards, International Financial Reporting Standards and the requirements of the Companies Act 2016. The Board is responsible for the quality and completeness of publicly disclosed financial reports. This ensures that shareholders are provided with a balanced and meaningful evaluation of the Company’s financial performance, its position and its future prospects, through the issuance of its annual audited financial statements and quarterly financial reports and corporate announcements on significant developments affecting the Company in accordance with the MMLR of Bursa Securities. The Board is committed to continuously provide and present a clear, balanced and comprehensive assessment of the Group’s financial performance and prospects. In order to fulfil the commitments to stakeholders, the Company ensures that the recording and reporting of financial and business information is as fair and accurate as determinable. 5.2 Relationship with Auditors and Independence of External Auditors Through the AC, the Board maintains a transparent and professional relationship with the Company’s auditors, both external and internal. The AC met the external auditors once during the year under review without the presence of the Executive Directors and the Management to allow the AC and the external auditors to exchange independent views on matters which require the AC’s attention. The external auditors, Crowe Malaysia PLT, provide an independent opinion, based on audit performed on the financial statements of the Group and report the same to the shareholders of the Company in accordance with Section 266 of the Companies Act 2016. The external auditors also attend each AGM in order to assist in giving clarifications to shareholders on the audited financial statements. The suitability and independence of external auditors are annually reviewed and monitored by the AC. The AC has a set of criteria in assessing the suitability and independence of the external auditors. Written and/or verbal assurance from the external auditors is also sought in confirming that they are, and have been, independent throughout the conduct of the audit engagement in accordance with the terms of all relevant professional and regulatory requirements. DAGANG NeXCHANGE BERHAD 132 CORPORATE GOVERNANCE OVERVIEW STATEMENT
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