125 ANNUAL REPORT 2024 MST GOLF GROUP BERHAD Internal Audit Function The Group has appointed Sterling Business Alignment Consulting Sdn Bhd as the Group’s Internal Auditor (“GIA”) to assist the AC in ensuring an independent oversight of all key business processes which includes identifying and evaluating risks and internal controls for all significant operations of the Group. In 2024, the AC has approved the internal audit plan, which outlines the scope of work for the outsourced internal audit function. The AC reviews the quarterly reports prepared by GIA, which include internal audit findings, recommendation for improvements and management's action plans. GIA is free from any relationships or conflict of interest, which could impair their objectivity and independence of the internal audit function and do not have any direct operational responsibility or authority over any of the audited activities. Anti-Bribery and Corruption Policy The Board has approved the Group’s Anti-Bribery and Corruption Policy on 22 November 2023 and this policy establishes the framework and commitment to integrity, outlines the Group’s zero-tolerance stand on bribery and corruption for the Group and its employees. REVIEW OF THE STATEMENT BY THE EXTERNAL AUDITORS The Company’s external auditors have reviewed this Statement in accordance with Paragraph 15.23 of the MMLR. Their review has been conducted in accordance with the scope as set out in the Audit and Assurance Practice Guide 3 - Guidance for Auditors on Engagements to Report on the Statement on Risk Management and Internal Control included in the Annual Report, issued by the Malaysian Institute of Accountants to assess whether this Statement is both supported by the documentation prepared by or for the Directors and appropriately reflects the process which the Directors have adopted in reviewing the adequacy and integrity of the system of internal control for the Group. Based on their review, the Company’s external auditors have reported to the Board that nothing has come to their attention which causes them to be of the opinion that this Statement is inconsistent with their understanding of the reviewing process adopted by the Board for the adequacy and integrity of internal control of the Group. BOARD ASSURANCE The Board has assessed the Group's Risk Management and Internal Control for the year under review and confirms its adequacy and effectiveness up to the date of this Statement. The Board concludes the system was satisfactory, with no material losses due to internal control weaknesses or non-compliance issues during the year. The Board has received assurance from the Group’s CEO and CFO to the best of their knowledge, the Group’s risk management and internal control systems are operating adequately and effectively, in all material aspects. This Statement was issued in accordance with a resolution of the Board, approved on 14 April 2025.
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