Serba Dinamik Annual Report 2021

Integrated Report 2021 247 INTERNAL AUDIT FUNCTION ARC is supported by the Internal Audit Function in the discharge of its duties and responsibilities. Internal Audit Function, as the third line of defense, checks for compliance with statutory/regulatory requirements, internal policies and procedures and reviews the internal control and governance procedures for adequacy and effectiveness. In Financial Year 2020, the Group has engaged Salihin Consulting Group Sdn. Bhd. (“SALIHIN”), as Internal Auditor to undertake a Risk Based Internal Audit Consultancy. The general scope and responsibilities of the Internal Audit Function include but are not limited to, conducting reviews, examination and evaluation of the adequacy and effectiveness of the Group’s risk management processes, internal control assurance and corporate governance practices in carrying out assigned responsibilities to achieve the Group’s stated mission and vision. Total cost incurred by the Internal Audit Function in discharging its functions and responsibilities for financial year 2021 amounted to RM390,885.87. AUDIT & RISK COMMITTEE REPORT