My EG Services Berhad Annual Report 2019

MY E.G. SERVICES BERHAD [Registration No. 200001003034 (505639-K)] 88 INTERNAL AUDIT FUNCTION (CONT’D) The total cost incurred for the internal audit function for the financial period under review was approximately RM30,000. Further details of the internal audit function are set out in the Risk Management and Internal Control Statement on pages 89 to 91. MOVING FORWARD The Board had on 27 February 2020 approved the separation of ARMC into two (2) committees, namely Audit Committee and Risk Management Committee in line with the recommendation under the Step-up Practice 9.3 of the MCCG. The members of the Audit Committee and Risk Management Committee will carry out their respective role starting 27 February 2020 onwards. Membership of Audit Committee Name of Audit Committee Members Position Tan Sri Dato’ Dr Muhammad Rais Bin Abdul Karim Chairman, Independent Non-Executive Director %BUVL .PIE +JNNZ 8POH #JO "CEVMMBI Member, Independent Non-Executive Director Mr Wong Kok Chau Member, Independent Non-Executive Director Functions The Audit Committee assists the Board in the following areas: z In complying with specified accounting standards and required disclosure as administered by Bursa Securities, relevant accounting standards bodies, and any other laws and regulations as amended from time to time; z In presenting a balanced and understandable assessment of the Group’s financial position and prospects; and z In establishing a formal and transparent arrangement for maintaining an appropriate relationship with the Company’s external auditors. Its revised Terms of Reference to reflect the duties and responsibilities of Audit Committee is available on the Company’s website: www.myeg.com.my/investor_relations under “Corporate Governance” tab. BOARD OF DIRECTORS AUDIT COMMITTEE AUDIT AND RISK MANAGEMENT COMMITTEE REPORT (CONT’D)