corporate governance overview statement PRINCIPLE B: EFFECTIVE AUDIT AND RISK MANAGEMENT AUDIT COMMITTEE The Company’s AC comprises exclusively of independent directors with the Chairman of the Commiee being cerঞfied accountant and a member of the Malaysian Insঞtute of Accountants. In compliance with the MCCG 2021, the AC Chairman is not the Chairman of the Board of Directors. The roles and responsibiliঞes of the AC is provided for in its TOR, which can be viewed at www.mchb.com.my. In execuঞng its role, the AC is supported by the Company’s external and internal audit funcঞons. On maers pertaining to risk, the AC is supported by the Board’s RMC. The AC is responsible for ensuring that the Group’s and the Company’s financial statements, are made out in line with recognised accounঞng standards i.e. the Malaysian Financial Reporঞng Standards (“MFRS”) and the Internaঞonal Financial Reporঞng Standards (“IFRS”), and that a balanced and fair view of the financial state and performance of the Group is presented. Having assessed the performance of the AC during the financial year, the Board is saঞsfied that the AC has effecঞvely discharged its duঞes. Please refer to the Audit Commiee Report in this IAR2025 for detailed informaঞon on the scope of works undertaken by the Group’s AC in FY2025. COMPLIANCE WITH APPLICABLE FINANCIAL REPORTING STANDARDS The Board states that the annual audited financial statements and interim financial results have been prepared to comply with the Act and applicable financial reporঞng standards in Malaysia. This includes adopঞng all necessary measures to ensure all applicable accounঞng policies have been applied consistently, and that the policies are supported by reasonable and prudent judgement and esঞmates. EXTERNAL AUDIT FUNCTION The Group’s external audit funcঞon is performed by Messrs. Ernst & Young PLT. The External Auditors reports to the AC and conducts its audit based on an AC approved audit plan. The External Auditors has provided wrien assurance of its independence in accordance with the independence rules of the Malaysian Insঞtute of Accountants. The AC has assess the performance of the External Auditors based on the following criteria: • The quality and scope of the planning of the audit in assessing risks and how the External Auditors maintain or update the audit plan to respond to changing risks and circumstances; • The quality and ঞmeliness of reports provided to the AC; • The level of understanding demonstrated of the Group’s businesses; and • Communicaঞon to the AC about new and applicable accounঞng pracঞces and audiঞng standards and its impact on the Group’s financial statements. The AC is saঞsfied that the External Auditors conঞnue to possess the competency, independence and experience required to fulfil their duঞes effecঞvely. Hence, the AC has recommended their re-appointment for the following financial year, subject to shareholders approval at the forthcoming AGM. In the course of performing its duঞes, the External Auditors has met with the Board on one occasion without the presence of Senior Management to provide an update on related accounঞng and audit maers. The following are the fees paid/payable to the External Auditors and affiliates: Fees FY2024 (RM’000) FY2025 (RM’000) Audit Fees 730 925 Non-Audit Fees 8 18 The Senior Management’s remuneraঞon in FY2025 comprising an aggregated amount of remuneraঞon as shown below: TOTAL NOS AGGREGATED REMUNERATION (RM) 3 11.38 million - 11.54 million MATRIX CONCEPTS HOLDINGS BERHAD INTEGRATED ANNUAL REPORT 2025 124 06 OUR GOVERNANCE
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