THE BOARD AUDIT AND RISK COMMITTEE REPORT Number of Meetings Held and Details of Attendance The BARC meets at quarterly intervals or such other intervals as the Committee shall decide. The BARC held four (4) regular meetings during the financial year ended 31 December 2023 which were attended by all members. During the financial year, the details of attendance are as follows:- MEETINGS AND ATTENDANCE Terms of Reference The duties and responsibilities of the BARC are set out in its Terms of Reference which is accessible in the Corporate Governance section, on the website at www.alaqar.com.my The BARC shall meet at least 4 times annually and the Internal Auditor, the Head of Finance and the Head of Compliance and Risk shall attend the meetings. Relevant members of Senior Management shall be invited to attend these meetings to assist to clarify matters raised at the meetings. A majority of independent Directors present shall form a quorum. The BARC shall meet with the External Auditors without the executive Board members and Management being present at least twice a year. Meeting papers were circulated to all the BARC members prior to the meetings by way of electronic means. Minutes of each BARC Meeting were recorded and tabled for confirmation and adoption at the next BARC Meeting and subsequently presented to the Board for approval and notation. The Chairman of the BARC shall report on each meeting to the Board. The BARC carried out the following work during the financial year ended 31 December 2023 in the discharge of its functions and duties:- Overseeing Financial Reporting (a) At the meeting held on 2 February 2023, the External Auditors presented to the BARC the results of the FYE2022 audit conducted on Al-`Aqar Healthcare REIT where significant audit matters listed below are discussed: i. Valuation of investment properties ii. Expected credit losses of trade receivables iii. Going concern considerations and compliance with loan covenants SUMMARY OF WORK CARRIED OUT DURING FINANCIAL YEAR NO BARC Members Date of Meetings 2 Feb 2023 18 May 2023 17 Aug 2023 16 Nov 2023 1 Abdullah bin Abu Samah 2 Datuk Sr Akmal Bin Ahmad 3 Lailatul Azma Binti Abdullah (Effective on 5 July 2023) N/A N/A 4 Dato’ Wan Kamaruzaman Bin Wan Ahmad N/A N/A 119 CORPORATE GOVERNANCE 1 2 3 5 6 AL-`AQAR HEALTHCARE REIT ANNUAL REPORT 2023
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