annual report 2014
I
41
Statement on Risk Management and Internal Control (Cont’d)
REVIEW OF THIS STATEMENT BY EXTERNAL AUDITORS
As required by Paragraph 15.23 of the MMLR, the external auditors have reviewed this Statement. As set out in their
terms of engagement, the said review procedures were performed in accordance with the Recommended Practice Guide
5 (Revised):
Guidance for Auditors on Engagements to Report on the Statement on Risk Management and Internal Control
Included in the Annual Report
(“RPG 5”), issued by Malaysian Institute of Accountants.
RPG 5 does not require the external auditors to consider whether this Statement covers all risks and controls, or to form
an opinion on the adequacy and effectiveness of the Group’s risk management and internal control system. RPG 5 also
does not require the external auditors to consider whether the processes described to deal with material internal control
aspects of any significant problems disclosed in this Annual Report will, in fact, remedy the problems.
Based on their procedures performed, the external auditors have reported to the Board that nothing has come to their
attention that causes them to believe that this Statement is not prepared in all material suspects, in accordance with the
disclosures required by paragraphs 41 and 42 of the
Statement on Risk Management and Internal Control: Guidelines for
Directors of Listed Issuers
, nor is it factually inaccurate.
CONCLUSION
The Board, after due consideration, is of the opinion that the system of internal controls as described in this Statement to
be satisfactory and the key risks are maintained at an acceptable level in the context of the Group’s business environment.
The Managing Director, Chief Operating Officer and Executive Director who is in charge of financial management have
given assurance to the Board that the Group’s risk management and internal control system are operating adequately
and effectively in all material aspects, based on the risk management framework adopted by the Group. There were no
significant internal control deficiencies or weaknesses that resulted in material losses or contingencies to the Group during
the financial year under review.
Based on the above, the Board is satisfied that the risk management and internal control systems in place for the financial
year under review and up to the date of issuance of this Statement is adequate and effective to safeguard the Group’s
assets and the interests of the shareholders.
This Statement on Risk Management and Internal Control is made in accordance with the resolution of the Board dated
15 May 2015.
