STATEMENT OF DIRECTORS’ RESPONSIBILITY GOVERNANCE ADDITIONAL COMPLIANCE INFORMATION GOVERNANCE A. STATUS OF UTILISATION OF PROCEEDS During the financial year ended 31 December 2021, the Company did not raise any proceeds from corporate proposals. B. AUDIT AND NON-AUDIT FEES i) The amount of audit fees paid or payable to the external auditors, Ernst & Young PLT (“EY PLT”), for services rendered to the Group and the Company for the financial year ended 31 December 2021 amounted to RM5.2 million and RM0.8 million respectively. ii) The amount of non-audit fees paid or payable to the external auditors, EY PLT, and their affiliated companies for services rendered to the Group and the Company for the financial year ended 31 December 2021 amounted to RM1.2 million and RM0.5 million respectively. The non-audit services rendered to the Group and the Company includes limited review of semi-annual financial results and tax advisory. C. MATERIAL CONTRACTS There were no material contracts entered into by the Company and its subsidiaries which were not in the ordinary course of business, involving the Directors’ and/or major shareholders’ interests, still subsisting at the end of the financial year ended 31 December 2021 or, if not then subsisting, entered into since the end of the previous financial year. The directors are responsible in ensuring that the annual audited financial statements of the Group and of the Corporation are drawn up in accordance with the provisions of the Companies Act 2016 and the requirements of the applicable approved Financial Reporting Standards issued by the Malaysian Accounting Standards Board. The directors are also responsible to ensure that the annual audited financial statements of the Group and of the Corporation present a true and fair view of the state of affairs of the Group and of the Corporation as at the financial year end and of their financial performance and cash flows for the financial year then ended. In preparing the annual audited financial statements of the Group and of the Corporation for the financial year ended 31 December 2021, the directors have ensured that: • the financial statements comply with the Companies Act 2016 and the requirements of the applicable approved Financial Reporting Standards issued by the Malaysian Accounting Standards Board; • appropriate and relevant accounting policies were adopted and consistently applied; • reasonable and prudent estimates and judgements were made; and • going concern basis was adopted. The directors are responsible to ensure that the Group and the Corporation keep accounting records which disclose, with reasonable accuracy, the financial position of the Group and the Corporation. The directors have the overall responsibility for taking such steps that are reasonably available to them to safeguard the assets of the Group and the Corporation to prevent and detect fraud and other irregularities. MISC Berhad 286 Integrated Annual Report 2021 MISC Berhad Integrated Annual Report 2021 287
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