STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL (CONT’D) INTERNAL CONTROL SYSTEM (CONT’D) (iii) Formalisation of several Company policies and procedures (“PnP”), including the Code, ABC PnP and Whistleblowing PnP, to foster a culture of integrity and ethical behaviours within the Group; (iv) Adoption of a Fit and Proper Policy to provide the NC with clear and objective criteria in considering the appointment and re-appointment of Directors; (v) Implementation of ISO-certified SOPs, such as ISO 9001 - Quality Management Systems, ISO 14001 - Environmental Management Systems and ISO - 45001 Occupational Health & Safety Management Systems, to ensure consistency, efficiency and alignment with the Group’s business and sustainability objectives; (vi) Implementation of proper financial reporting procedures including the review of unaudited quarterly financial results, annual audited financial statements, RPT, RRPT and conflict of interest scenario (if any) by the ARMC prior to submission for the Board’s approval; and (vii) Quarterly internal audit reviews by an independent outsourced Internal Auditor to assess and evaluate the effectiveness of the Group’s internal control system and recommend to the Management and ARMC on areas for continuous improvement. INTERNAL AUDIT FUNCTION In line with Paragraph 15.27 of MMLR, the Group has outsourced its internal audit function to an independent professional firm, Baker Tilly Malaysia, to assist the Board and ARMC in providing objective and independent assessments on the adequacy and effectiveness of the Group’s risk management and internal control systems. The internal audit function is led by Mr Kuan, Partner of Internal Audit & Risk Advisory at Baker Tilly Malaysia. Mr Kuan is a professional member of the Institute of Internal Auditors Malaysia and also possesses full professional qualifications from ACCA. He has 20 years of experience in internal auditing and is equipped with the extensive knowledge and expertise in risk management, internal controls and governance practices. Mr Kuan is supported by a team of up to 3 internal audit personnel, including managerial-level staff, in carrying out the internal audit engagements during the FYE 2025 based on the approved Internal Audit Plan. During the FYE 2025, the Internal Auditor has performed 4 internal audit scopes as set out in the approved Internal Audit plan in accordance with the IPPF for Internal Auditing issued by the Institute of Internal Auditors Malaysia, as below: Internal Audit Scope Crewing Management of Keyfield Offshore Sdn. Bhd. Human Resource & Payroll Management of the Group Technical & Maintenance Management of Keyfield Offshore Sdn. Bhd. Risk Management and Reporting Process of the Group During the audit engagements, the Group has provided full and unrestricted access to all information and resources in the Group to the Internal Auditor to ensure an effective conduct of audit process. 136 KEYFIELD INTERNATIONAL BERHAD 202001038989 (1395310-M)
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