The Board is pleased to present the Audit Committee (“AC”) Report for the financial year ended 31 December 2023 (“FY2023”). AUDIT COMMITTEE AT A GLANCE Members The AC is composed of three (3) members, majority of whom are Independent Non-Executive Directors, ensuring a robust and impartial oversight. One of the members is a member of the Malaysian Institute of Accountant, bringing specialized expertise to the AC deliberations. The composition of the AC adheres strictly to the stipulated requirements outlined in paragraph 15.09(1) of the MMLR of Bursa Securities, ensuring compliance with regulatory standards and best practices. It is noteworthy that no alternate director is appointed as a member of the AC, underscoring the AC’s commitment to maintaining continuity and consistency in its operations. During the FY2023, the AC members are as follows: Name of AC Members Position Wong Kok Chau Chairman, Independent Non-Executive Director Datuk Mohd Jimmy Wong Bin Abdullah Member, Non-Independent Non-Executive Director Mohaini Binti Mohd Yusof Member, Independent Non-Executive Director All members of the AC possess financial literacy and equipped with the necessary skills to proficiently analyze and interpret financial statements. This expertise enables them fulfill their duties, roles, and responsibilities for the Company with precision and effectiveness. Their adeptness in financial matters ensures comprehensive oversight and informed decision-making, contributing significantly to the AC’s ability to safeguard the Company’s interests and maintain transparency and integrity in financial reporting. Meetings Throughout the FY2023, the AC convened for a total of five (5) meetings. These meetings were organized in a wellstructured framework to optimize efficiency and effectiveness. Prior to each meeting, comprehensive agendas were prepared and distributed to all AC members well in advance, ensuring ample time for review and preparation. These agendas serve as invaluable roadmaps, delineating the intricate details of the topics slated for discussion and facilitating thorough deliberation and analysis during the meetings. This approach to meeting organization not only underscores the AC’s commitment to transparency and accountability but also fosters an environment conducive to robust decision-making and prudent governance. The attendance of the AC members during the FY2023 is as follows: Name of AC Members Meetings attended Wong Kok Chau 5/5 Datuk Mohd Jimmy Wong Bin Abdullah 5/5 Mohaini Binti Mohd Yusof 5/5 The profile of the AC members can be found in the Profile of Directors as set out from pages 29 to 35 of this IAR2023. The Company Secretaries or their designated representatives were present at all meetings, providing the necessary secretarial support to the AC members as prescribed under the Audit Committee Terms of Reference. Additionally, stakeholders directly involved in audit processes, including representatives from the external auditors, outsourced internal auditors, and Senior Management, were strategically invited to specific meetings. This facilitated direct communication, enabling timely clarification on audit-related matters, internal controls, and Group operations, thereby enhancing the AC’s effectiveness in fulfilling its oversight responsibilities. AUDIT COMMITTEE REPORT 150 MY E.G. SERVICES BERHAD Registration No. 200001003034 (505639-K) h A di C i (“ ”) R f h fi
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