SUMMARY OF WORK OF THE AUDIT COMMITTEE (CONT'D) • Reviewed and approved the scope of annual audit plan for FY2025 proposed by the in-house internal audit team to ensure the adequacy of the scope and coverage of work on the Group’s activities. • Reviewed the internal audit reports, which highlighted the audit issues, recommendations and management’s responses. Discussed with management on actions taken to improve the system of internal control based on improvement opportunities identified in the internal audit reports. • Reviewed and approved the follow-up reports on the status of implementation of those control weaknesses as highlighted by in-house internal audit team. • Reported to the Board on significant audit issues and concerns discussed during the Audit Committee meetings which may have significant impact on the Group from time to time, for consideration and deliberation by the Board. • Reviewed and approved the external auditors annual audit planning memorandum of the Group for FY2025, external auditor’s fees, audit strategy and scope of work for the year in connection with their audit. • Reviewed the findings of the external auditors reports particularly on key audit matters and areas of concern highlighted in the progress reports, including management’s response to the concerns raised by the external auditors. • Held private sessions with the external auditors without the presence of Executive Directors and management, to discuss the audit findings and any other observations that they may have during the audit process. There were no major concerns/issues raised by the external auditors at the meetings. • Discussed with external auditors on significant accounting and auditing updates arising from new or proposed changes in accounting standards and regulatory requirements in relation to the financial statements. • Evaluated the performance and assessed the independence and objectivity of the external auditors in providing their services and made recommendations to the Board on their re-appointment and remuneration. Internal Audit External Audit AUDIT COMMITTEE REPORT PG | 138 ANNUAL REPORT 2025 MKH BERHAD
RkJQdWJsaXNoZXIy NDgzMzc=