OUR GOVERNANCE 138 AUDIT COMMITTEE REPORT The Board is pleased to present this AC Report which provides insights as to the manner the AC discharged its functions for the Company for FY2025. Roles and Responsibilities The AC is integral to the Group’s governance framework, providing independent oversight to support the Board in fulfilling its statutory and fiduciary responsibilities. The AC ensures the integrity and reliability of the Group’s financial management and reporting processes, system of internal controls, related party transactions and conflict of interest that may arise within the Group. It upholds corporate governance standards and promotes accountability across the organization by ensuring compliance with applicable financial reporting and accounting standards as well as legal and regulatory requirements. Through its oversight of both internal and external audit functions, the AC plays a crucial role in fostering transparency and ethical conduct within the Group. Its efforts safeguard stakeholder interests and contribute to the Group’s financial health and operational resilience, reinforcing confidence in the Group’s governance practices. While the AC assists the Board in overseeing the Group’s financial reporting process and the review of internal control matters that have a direct impact on the Group’s financial statements, the GRSC oversees the Group’s enterprise-wide risk management framework, including the identification, evaluation and monitoring of key risks affecting the Group’s financial and business operations. Activities of the GRSC complement the role of the AC, particularly in relation to the AC’s review of the adequacy and integrity of the Group’s system of internal controls and risk management practices insofar as they relate to the financial reporting process. Composition The AC comprise solely of INEDs as follows: Director Role in the Board Role in the Committee Poh Ying Loo Independent Non-Executive Director Chairperson Datin Suryani Binti Ahmad Sarji Independent Non-Executive Director Member Alice Lee Chia Yee Independent Non-Executive Director Member The AC’s composition meets the requirement of Paragraphs 15.09 and 15.10 of the MMLR, which set out that the audit committee must be composed of not fewer than three members, all of whom must be non-executive directors with the audit committee’s chairman and a majority of the members being independent directors. The requirements also set out that at least one audit committee member must be a member of the Malaysian Institute of Accountants, and no alternate director is appointed as a member of the audit committee. The AC Chairman is a member of the Malaysian Institute of Accountants. In line with Practice 9.1 of the MCCG, the AC Chairman is also not the Chairman of the Board.
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