123 ANNUAL REPORT 2022 (c) Ensured that the review procedures were sufficient to ensure that the RRPTs were not more favourable to the related parties than those generally available to the public and were not to the detriment of the minority shareholders and that the REIT Manager had in place adequate procedures and processes to monitor, track and identify RRPTs in a timely and orderly manner, and such procedures and processes were reviewed on a yearly basis or whenever the need arose. (d) Reviewed RRPT on a quarterly basis. The Management had given assurance to the BARC that related party transactions and mandate for RRPT were in compliance with the Listing Requirements and policies and procedures. Other Activities Reviewed and recommended to the Board, for inclusion in the Annual Report: • The BARC Report • Corporate Governance Overview Statement • Corporate Governance Report • Statement on Risk Management and Internal Control SUMMARY OF MEETINGS IN THE YEAR Items discussed 26 Jan 2022 13 April 2022 (Special) 18 May 2022 18 Aug 2022 16 Nov 2022 Financial Reporting Full year results (2021) Interim results Consideration of new accounting standards MFRS9, MFRS139 and MFRS 7, MFRS 4 and MFRS 16 (FYE 2021) Internal audit Internal audit plan Internal audit reports (Al-Salam) Internal audit effectiveness and independence External audit External audit plan External audit reports (FYE 2021) External audit effectiveness and independence Risk Risk Registers RRPT Quarterly Review Annual Report Review of SORMIC and BARC Report (FYE 2021) Other Matters Review of Policies and Frameworks Evaluation and Review of Outsourced Activities BOARD AUDIT AND RISK COMMITTEE REPORT
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