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CORPORATE GOVERNANCE
 
Investor Relations | Corporate Governance | Statement On Corporate Governance
 

   
     
 
 
 
   
To read our complete Corporate Governance Statement, download our 2008 Annual Report.
 
- Download 2008 Annual Report  
- See all available Annual Reports

 
 
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4.   INTEGRITY IN FINANCIAL REPORTING

 
4.1   Financial Reporting
 

In presenting the annual report and quarterly financial statements to shareholders, the Board aims to provide a balanced and comprehensive assessment of the Group’s financial performance and prospect. The Board is responsible for ensuring the annual financial statements are prepared in accordance with the Malaysian Financial Reporting Standards, International Financial Reporting Standards, provisions of the Companies Act, 1965 and Bursa Malaysia Listing Requirements.

 
The Audit Committee reviewed the quarterly results and annual financial statements before presenting to the Board for approval and ensures that the financial statements comply with the applicable laws and financial reporting standards.  
   
4.2   Relationship with Auditors  

The Company maintained a formal and transparent relationship with the Auditors, both internal and external, in seeking professional advice and ensuring compliance in matters pertaining to risk management and internal control and accounting standards.

 

The Audit Committee also has private session discussion with the external auditors, in the absence of the executive directors and management, to exchange views on issues of concern.  

 
   
5.0   RECOGNISE AND MANAGE RISKS  
The Board acknowledges its responsibility for maintaining a sound system of internal control, including risk management and reviewing its effectiveness to safeguard shareholders’ investment and Group assets. As with any such system, controls can only provide reasonable but not absolute assurance against material misstatement or loss. The Group is continuously looking into the adequacy and integrity of its system of internal control  

The internal auditors conducted independent audit on the departments and functions within the Group and reported their findings to the Audit Committee at quarterly meetings. 

 

A Statement on Risk Management and Internal Control of the Group is set out in this Annual Report.

 
   

DIRECTORS’ RESPONSIBILITY STATEMENT

 
The Directors are responsible to prepare financial statements for each financial year which give a true and fair view of the financial position of the Company and the Group and of the financial performance and cash flows of the Company and the Group, in accordance with the Malaysian Financial Reporting Standards (“MFRS”), International Financial Reporting Standards (“IFRS”) and the Companies Act, 1965 in Malaysia. These financial statements also complied with the applicable disclosure provisions of the Listing Requirements of Bursa Malaysia Securities Berhad.  

In ensuring the preparation of these financial statements, the Directors have:-

 
  • adopted suitable accounting policies and applied them consistently;
  • made judgement and estimates that are reasonable and prudent;
  • ensured that applicable approved accounting standards have been complied with; and
  • ensured that proper accounting and other records which disclose with reasonable accuracy the financial position of the Company and the Group are kept.
 
   
   
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