(v) Obtain external professional advice and secure the attendance of outside parties with relevant experience and expertise, if deemed necessary. (vi) Convene meetings with external auditors, internal auditors or both without the presence of the Management, whenever deemed necessary. SUMMARY OF THE WORK OF THE AUDIT COMMITTEE A summary of the work of the Audit Committee in the discharge of its duties and responsibilities for the financial year ended 30 June 2022 is as follows:- (i) Financial Reporting (a) Reviewed the DNeX Group’s quarterly unaudited financial results and the related announcements before recommendation to the Board of Directors (the “Board”) for consideration and approval for release to Bursa Securities. When reviewing the report, the Audit Committee received assurance from the Management that the condensed consolidated interim financial statements were prepared in accordance with Malaysian Financial Reporting Standards 134: Interim Financial Reporting, paragraph 9.22 of the MMLR of Bursa Securities and International Accounting Standards 34: Interim Financial Reporting issued by the International Accounting Standards Board. (b) The Audit Committee had also reviewed the audited financial statements of the Company and DNeX Group for the financial year ended 30 June 2022 which covers the financial position and performance for the financial year and ensure that it complied with all disclosures and regulatory requirements and recommended the audited financial statements to the Board for approval. (c) Reviewed and approved the Report of the Audit Committee for inclusion in the Company’s Integrated Report. (ii) External Audit (a) Considered the audit fees and re-appointment of Crowe Malaysia PLT as external auditors of the Company and DNeX Group. (b) Reviewed and approved the external auditors’ Audit Planning Memorandum, audit approach and scope of audit work for the financial year. (c) Met with the external auditors without the presence of executive Board members and Management to discuss DNeX Group’s practices to enhance compliance in all law and regulations imposed by relevant regulatory bodies. (d) The declaration of independence of the external auditors was noted. (iii) Internal Audit (a) Reviewed and approved the Internal Audit Plan for DNeX Group to ensure adequate scope and comprehensiveness of the activities and coverage on auditable entities with significant high risks. (b) Reviewed the progress of audit assignments carried out in accordance with the Internal Audit Plan for the financial year ended 30 June 2022. (c) Reviewed the Internal Audit Reports issued during the financial year ended 30 June 2022 as follows:- 1. Compliance on Section 17A of the Malaysian Anti-Corruption Commission Act 2009. 2. Business Development and Project Management for CS DNeX Pacific Link. 3. Special Review on OGPC Sdn. Bhd. 4. Procurement Process and Governance. 5. Shipment of Sea Stallion 4 Cable Plough Spread for PT Dagang Samudera Hutama. 6. Contracting Work with Prima Falah on Marine Repair Works for CS DNeX Pacific Link. 7. Malaysian Administrative Modernisation and Management Planning Unit (MAMPU) Project by DNeX Solutions Sdn. Bhd. 8. DNeX Group Cybersecurity. 9. Innovation Associates Consulting Sdn Bhd’s procurement of HPE Cloud Subscription Service. 10. Genaxis Group Sdn Bhd’s business expansion into artificial intelligence market segment in Agorai Pte Ltd. 149 DNeX INTEGRATED REPORT 2022
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