AUDIT COMMITTEE 1. Composition of Audit Committee The Audit Committee comprised of four (4) members, majority who are Independent Non-Executive Directors. The Chairman of the Audit Committee, Ms. Hoon Shat Mei is a member of the Association of Chartered Certified Accountants (ACCA). The other members of the Audit Committee are Dato’ Lim Hong Shuan, Ms. Lee Pei Yee and En. Jeffrey bin Bosra. 2. Relationship with Auditors The Company’s independent external auditors perform an essential role for the shareholders by enhancing the reliability of the Company’s financial statements and giving assurance of that reliability to users of these financial statements. The Board through the Audit Committee maintains a transparent and professional relationship with the external auditors. The external auditors will communicate to the Audit Committee and the Board when they become aware of any significant weaknesses in the Company’s system of internal control, including fraud, during the course of their audit that may require the attention of the Audit Committee and the Board. The role of the Audit Committee in relation to the external auditors is set out on pages 137 to 141. For the financial year under review, the external auditors had attended all the Audit Committee meetings and general meeting of the Company and had five (5) meetings with the Audit Committee without the presence of any Executive Director and management, to discuss the audit findings and any other observations they may have during the audit process. PRINCIPLE B: EFFECTIVE AUDIT AND RISK MANAGEMENT Corporate Governance Overview Statement The external auditors have also confirmed that they are and have been, independent throughout the conduct of the audit engagement in accordance with the independence criteria as set out by the MIA By-Laws and have provided the declaration in their annual audit plan presented to the Audit Committee of the Company. The Audit Committee together with the Chief Financial Officer had undertaken an annual assessment of the competency and independence of the external auditors pursuant to the External Auditors Assessment Policy, which has outlined the guidelines and procedures for the assessment on the suitability of the external auditors on 24 December 2024. The Board, on the recommendation of the Audit Committee, is of the view that the declaration of independence, integrity and objectivity made by the external auditors in their audit report for each financial year under review is sufficient to serve as a written assurance from the external auditors on their independence and integrity throughout the conduct of the audit engagement in accordance with the independence criteria as set out by MIA By-Laws, has recommended their re-appointment to the Board, upon which the shareholders’ approval will be sought at the AGM. The details of the External Auditors Assessment Policy are available for reference at www.mkhberhad.com MKH BERHAD ANNUAL REPORT 2024 Laying The Foundation of Excellence Where People Matter Guided by Leadership, Inspired by People Delivering Value That Matters to People PG. 134
RkJQdWJsaXNoZXIy NDgzMzc=