Al-`Aqar Healthcare REIT Annual Report 2020

AL-`AQAR HEALTHCARE REIT Annual Report 2020 86 Board Audit and Risk Committee Report The BARC plays a major role in corporate governance regarding the organisation’s direction, control, and accountability. As a representative of the Board of Directors and main part of the corporate governance mechanism, the BARC is involved in the organisation’s both internal and external audits, internal control, accounting and financial reporting, regulatory compliance, and risk management. The BARC will be ensuring independence to the internal and external auditors which give results to true and fair financial reporting that will meet the expectation of and protect the interests of all the stakeholders and mainly shareholders. COMPOSITION For the financial year ended 31 December 2020, the Board Audit & Risk Committee (BARC or the Committee) comprised of 3 (three) Directors, all of whom are also members of the Board of the Manager. The composition of the BARC is as follows: 1. Zainah binti Mustafa Chairman/Independent Non-Executive Director 2. Dato’ Wan Kamaruzaman bin Wan Ahmad Independent Non-Executive Director (appointed on 24 August 2020) 3. Mohd Yusof bin Ahmad Non-Independent Non-Executive Director (appointed on 24 August 2020) 4. Dr. Mohd Hafetz bin Ahmad Independent Non-Executive Director (resigned on 24 August 2020) 5. Dato’ Sr Dr. Rahah binti Ismail Independent Non-Executive Director (resigned on 24 August 2020) On 3 August 2020, Dr. Mohd Hafetz bin Ahmad and Dato’ Sr Dr. Rahah binti Ismail resigned from being members of the BARC following the respective resignations as Independent Non-Executive Directors on 24 August 2020. Dato’ Wan Kamaruzaman bin Wan Ahmad, an Independent Non-Executive Director and Mohd Yusof bin Ahmad, a Non- Independent Non-Executive Director were appointed as member of the BARC effective 24 August 2020. MEETINGS AND ATTENDANCE Number of Meetings Held and Details of Attendance The BARC meets at quarterly intervals or such other intervals as the members shall decide. During the financial year, a total of 2 BARC meetings were held and the details of attendance are as follows: No Name of Committee Member attended No of meetings 1 Zainah binti Mustafa 2 out of 2 2 Dato’ Wan Kamaruzaman bin Wan Ahmad 1 out of 1 3 Mohd Yusof bin Ahmad 2 out of 2 4 Dr. Mohd Hafetz bin Ahmad 1 out of 1 5 Dato’ Sr Dr. Rahah binti Ismail 1 out of 1 Terms of Reference The BARC has a set of Terms of Reference that guides the discharge of its roles and responsibilities. Details of the Terms of Reference are available on the corporate website of www.alaqar.com.my