My EG Services Berhad Annual Report 2020

MY E.G. SERVICES BERHAD Regisration No. 200001003034 (505639-K) 114 TERMS OF REFERENCE (CONT’D) The Terms of Reference of the AC were as follows: (cont’d) 8. Responsibilities and Duties B 5P SFWJFX XJUI UIF FYUFSOBM BVEJUPST PO r 5IF BVEJU QMBO JUT TDPQF BOE OBUVSF r 5IF BVEJU SFQPSU r The results of their evaluation of the accounting policies and systems of internal accounting controls XJUIJO UIF (SPVQ r 5IF BTTJTUBODF HJWFO CZ UIF PGàDFST PG UIF $PNQBOZ UP FYUFSOBM BVEJUPST JODMVEJOH BOZ EJGàDVMUJFT PS EJTQVUFT XJUI NBOBHFNFOU FODPVOUFSFE EVSJOH UIF BVEJU BOE r "OZ PUIFS NBUUFST UIF FYUFSOBM BVEJUPST NBZ XJTI UP EJTDVTT JO UIF BCTFODF PG UIF NBOBHFNFOU JG necessary. b) To review the adequacy of the scope, functions and resources and set the standards of the internal audit function. D 5P EP UIF GPMMPXJOH JO SFMBUJPO UP UIF JOUFSOBM BVEJU GVODUJPO r 3FWJFX UIF BEFRVBDZ PG UIF TDPQF GVODUJPOT DPNQFUFODZ BOE SFTPVSDFT PG UIF JOUFSOBM BVEJU GVODUJPO BOE UIBU JU IBT UIF OFDFTTBSZ BVUIPSJUZ UP DBSSZ PVU JUT XPSL r 3FWJFX UIF JOUFSOBM BVEJU QSPHSBNNF QSPDFTTFT UIF SFTVMUT PG UIF JOUFSOBM BVEJU QSPHSBNNF BOE process and where necessary, ensure that appropriate actions are taken on the recommendations of UIF JOUFSOBM BVEJU GVODUJPO r 3FWJFX BOZ BQQSBJTBM PS BTTFTTNFOU PG UIF QFSGPSNBODF PG NFNCFST PG UIF JOUFSOBM BVEJU GVODUJPO r 3FWJFX UIF JOEFQFOEFODZ PG NFNCFST PG UIF JOUFSOBM BVEJU GVODUJPO r "QQSPWF BOZ BQQPJOUNFOU PS UFSNJOBUJPO PG UIF JOUFSOBM BVEJUPST r 5BLF DPHOJ[BODF PG SFTJHOBUJPOT PG JOUFSOBM BVEJU TUBGG NFNCFST BOE QSPWJEF UIF SFTJHOJOH TUBGG NFNCFS BO PQQPSUVOJUZ UP TVCNJU IJT SFBTPOT GPS SFTJHOJOH r 3FWJFX UIF OFDFTTBSZ CVEHFU BMMPDBUFE UP JOUFSOBM BVEJU GVODUJPO r *OWFTUJHBUF PS DBVTF UP CF JOWFTUJHBUFE BOZ BDUJWJUZ XJUIJO JUT 5FSNT PG 3FGFSFODF BOE r 5P IBWF FYQMJDJU BVUIPSJUZ PWFS UIF SFTPVSDFT TVDI BT QSPGFTTJPOBM BEWJDF BOE GVMM BDDFTT UP information to investigate certain matters. E 5P SFWJFX XJUI NBOBHFNFOU r "VEJU SFQPSUT BOE NBOBHFNFOU MFUUFS JTTVFE CZ UIF FYUFSOBM BVEJUPST BOE UIF JNQMFNFOUBUJPO PG BVEJU SFDPNNFOEBUJPOT r *OUFSJN àOBODJBM JOGPSNBUJPO BOE r 5IF BTTJTUBODF HJWFO CZ UIF PGàDFST PG UIF $PNQBOZ UP FYUFSOBM BVEJUPST e) To review and monitor related party transactions entered into by the Company or the Group and to determine if such transactions are undertaken on an arm’s length basis, normal commercial terms, on terms not more favourable to the related parties than those generally available to the public, to ensure that the Directors report such transactions annually to shareholders via the annual report, and to review conflicts of interest that may arise within the Company or the Group including any transaction, procedure or course of conduct that raises questions of management integrity. AUDIT COMMITTEE REPORT (CONT’D)