Corporate Governance Report

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Intended Outcome
Companies have an effective governance, risk management and internal control framework and stakeholders are able to assess the effectiveness of such a framework.

Practice 10.1
The Audit Committee should ensure that the internal audit function is effective and able to function independently.

Application Applied
Explanation on application of the practice The internal audit function is carried out by IA Essential Sdn Bhd (“IA”), an outsourced independent firm which report directly to the Audit Committee. The primary tasks of IA are evaluating the effectiveness of the risk management framework, internal control and governance processes. \

The Audit Committee reviews, discusses and approves the audit plan prepared by IA. Findings and results of audit conducted by IA are presented and discussed with the Audit Committee independently during quarterly meetings.

Explanation for departure  
 
Large companies are required to complete the columns below. Non-large companies are encouraged to complete the columns below.
Measure  
Timeframe    

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