GOVERNANCE A. BOARD LEADERSHIP AND EFFECTIVENESS (CONT’D) I. Board Responsibilities (cont’d) 6. Board Committees (cont’d) Audit Committee The AC assists in providing oversight on the Group’s financial reporting, disclosure, regulatory compliance and monitoring of internal control processes within the Group. Besides that, the AC reviews the quarterly financial results, unaudited and audited financial statements, internal and external audit reports as well as related party transactions. The description of the activities carried out by the AC during the year is set out in the AC Report from page 133 to 135 of this Annual Report. A copy of the AC’s Terms of Reference can be found on the Group’s website at https://www.myeg.com.my/investor-relations/governance. 7. Board Charter The Group has established a Board Charter to promote high standards of corporate governance. The Board Charter is designed to provide guidance and clarity to Directors and Management regarding the role of the Board and its Committees. It clearly sets out the key values and principles of the Group and the duties and responsibilities of the Board, the Chairman of the Board, Group Managing Director, Independent Director and Board Committees. The Board Charter also provides structure guidance and ethical standards for the Board to follow in discharging their duties as well as operating practices. The Board has a formal schedule of matters reserved for deliberation to ensure good governance is in place for the Group. These schedule of matters reserved are as follows: r $POáJDU PG JOUFSFTU JTTVFT SFMBUJOH UP B TVCTUBOUJBM TIBSFIPMEFS PS B %JSFDUPS JODMVEJOH BQQSPWJOH SFMBUFE party transactions; r .BUFSJBM BDRVJTJUJPOT BOE EJTQPTBM PG BTTFUT OPU JO UIF PSEJOBSZ DPVSTF PG CVTJOFTT JODMVEJOH TJHOJàDBOU capital expenditures; r 4USBUFHJD JOWFTUNFOUT NFSHFST BOE BDRVJTJUJPOT BOE DPSQPSBUF FYFSDJTFT r -JNJUT PG BVUIPSJUZ r 5SFBTVSZ QPMJDJFT r 3JTL NBOBHFNFOU QPMJDJFT r ,FZ IVNBO SFTPVSDF JTTVFT BOE r #VTJOFTT QMBOT The Board Charter is reviewed annually by the Board to keep abreast with the new changes in legislations and best practices, and remains effective and relevant to the Board’s objectives. A copy of the Board Charter can be found on the Group’s website at https://www.myeg.com.my/investor-relations/governance. 8. Code of Conduct, Code of Ethics and Code of Business Ethics The Group has established a Code of Conduct, Code of Ethics, and Code of Business Ethics to promote a corporate culture that encourages ethical conduct that permeates throughout the Group. Whereas, the Board is focused on the creation that imbues this culture throughout the Group. The Code of Conduct is based on principles of trust, integrity, responsibility, excellence, loyalty, commitment, dedication, discipline, diligence and professionalism. The Code of Ethics is based on the principles of sincerity, integrity, transparency, accountability and corporate social responsibility. The Code of Business Ethics sets out the standards of ethical business practices and conduct that the Group expects from all business associates. CORPORATE GOVERNANCE STATEMENT (cont’d) 123
RkJQdWJsaXNoZXIy NDgzMzc=