Press Metal Aluminium Holdings Berhad SECTION 4 • EFFECTIVE STEWARDSHIP THROUGH GOOD GOVERNANCE 78 Audit Committee Report The Chief Financial Officer, External Auditors, Internal Auditors (both from the in-house IA team and professional firm providing outsourced IA services) together with the relevant personnel from Management were invited to attend AC meetings to present their reports and provide updates and developments on issues arising from the audit reports. The AC Chairman thereafter reported the AC’s recommendations to the Board for their consideration. He also updated the Board on significant matters discussed during the AC meetings. During the scheduled meetings, the members of the AC also had two (2) private sessions with the Internal Auditors and two (2) private sessions with the External Auditors without the presence of the Management. Discussions and deliberation at the AC meetings were recorded in the minutes of the AC meetings. Minutes of the AC meetings were tabled to the Board after they are confirmed at each subsequent AC meeting. In all AC meetings, the Chief Financial Officer was present to report on the results of the Group as well as to answer questions posed by the AC in relation to financial matters and the results. TERM OF OFFICE AND PERFORMANCE In order to assess the term of office of the AC members and performance of the AC in accordance with Paragraph 15.20 of the MMLR of Bursa Securities, each of the AC member has performed the annual self and peer evaluation assessment and the results were tabled to the NCGC for review and discussion at the NCGC meeting held on 13 February 2025, prior to presenting the summary reports to the Board for evaluation at the Board meeting held on 26 February 2025. The NCGC and the Board were satisfied with the overall performance of the AC as a whole and the performance of the AC members and confirmed that they have carried out their duties and responsibilities effectively in accordance with the TOR of the AC. CONTINUOUS TRAINING DEVELOPMENT The AC acknowledges the importance of continuing education and training to constantly keep themselves abreast with the regulatory changes and developments in the areas related to their duties. The AC members undergo training and attend seminars from time to time to update themselves with the relevant knowledge and skills in order to discharge their duties effectively. The training programmes attended by the AC members during the year under review are set out in the CGOS. TERMS OF REFERENCE The TOR of the AC, covering its scope of duties and responsibilities, authority and other relevant matters, is made available on the Company’s website at www.pressmetal.com. The TOR of the AC was last reviewed and revised and subsequently approved by the Board in August 2023. SUMMARY OF THE ACTIVITIES OF AC AC meetings together with the tentative agendas are scheduled in advance of any new financial year to allow the AC members to plan ahead and incorporate the year’s meetings into their respective schedules. The agenda and meeting papers are distributed to the AC members via a secured board portal platform, which eases the process of distribution of meeting papers and minimises leakage of sensitive information, as well as enabling the AC members to have access to the papers electronically, anytime and anywhere. This practice also ensures consistency with the Board’s and Company’s commitment to sustainable practices. All proceedings of the AC meetings are duly recorded in the minutes and are properly kept by the Company Secretary.
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