MKH Berhad 79 Statement on Risk Management and Internal Control Review By The External Auditors (Cont’d) Based on their procedures performed, the external auditors have reported to the Board that nothing has come to their attention that causes them to believe that the Statement on Risk Management and Internal Control is not prepared, in all material aspects, in accordance with disclosure required by paragraphs 41 and 42 of the Statement on Risk Management and Internal Control: Guidelines for Directors of Listed Issuers to be set out, nor is factually inaccurate. AAPG 3 does not require the external auditors to consider whether the Statement on Risk Management and Internal Control covers all risks and controls, or to form an opinion on the adequacy and effectiveness of the Group’s risk management and control system including the assessment and opinion by the Board and management thereon. The external auditors are not required to consider whether the processes described to deal with material internal control aspects of any significant problems disclosed in the Annual Report will, in fact, remedy the problems. The report from the external auditors was made solely for, and directed solely to the Board of Directors in connection with their compliance with the Bursa Securities’ Main Market Listing Requirements and for no other purposes or parties. Management Assurance In accordance with the requirements of the Statement on Risk Management and Internal Control: Guidelines for Directors of Listed Issuers, the Group Managing Director and the Chief Financial Officer have given reasonable assurance to the Board that the Group’s risk management and internal control system, in all material aspects, is operating adequately and effectively. Board’s Conclusion The Board is of the view that an appropriate risk management and internal control system, procedures and processes in operation during the year in review was reasonably adequate and effective to safeguard the assets of the Group and interest of shareholders. For the financial year under review, no significant control failures or weaknesses that result in material losses and require disclosure in the Group’s Annual Report were identified. This Statement has been approved by the Board on 13 January 2023.
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