OUR GOVERNANCE 140 Internal Audit Activities In FY2025, the internal audit function has carried out the following: (a) Formulated and agreed with AC on the internal audit plan and scope of works; (b) Performed internal audit reviews on the following areas: - i. Buying (procurement and sourcing) functions of the Group. ii. Overall operations of the Group in Singapore including retail and outlet operations, warehouse, inventory, logistics, corporate sales, wholesales and export sales. iii. Overall operations of the Group in Indonesia including retail and outlet operations, warehouse, inventory, logistics, corporate sales, wholesales and export sales. (c) Conducted follow up audits on previous internal audit reports findings to ensure the implementation of action plans by management. (d) Presentation of the internal audit reports and key findings to the AC. (e) Private sessions between AC and internal auditor without the presence of the EDs and management. The main objective of these audits is to identify any area for improvement, besides compliance internal control best practices, guidelines and objectives. The review exercise is focused on effectiveness and efficiency of operations, reliability of financial reporting, compliance with applicable laws and regulations as well as safeguarding of assets. The costs incurred by the Group on the outsourced internal audit function during FY2025 was RM82,615 (FY2024: RM72,999). This AC Report was made in accordance with a resolution of the Board approved on 15 April 2026. AUDIT COMMITTEE REPORT
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