Datasonic Group Berhad Annual Report 2020

DATASONIC GROUP BERHAD I ANNUAL REPORT 2020 (Registration No. 200801008472 (809759-X)) 83 KEY ELEMENTS OF THE INTERNAL CONTROL SYSTEMS OF THE GROUP (CONT’D) CONTROL ACTIVITIES (CONT’D) 6. Whistleblowing Policy Whistleblowing Policy established by the Board applies to the Directors and employees of the Group as part of Group’s commitment to promote and maintain high standards of transparency, accountability and ethics in the conduct of its business and operations, there is an established process for reporting anyone found to be abusing or circumventing processes and controls of the Group. All staff are accorded the opportunity to report via the whistle-blowing mechanism with the assurance that the report will be dealt with confidentially and that the reporter’s identity will be protected. From time to time, the Whistleblowing Policy will be reviewed in terms of applicability and compliance with developments in applicable regulatory requirements. In February 2020, the Board had approved the amendments made to the Whistleblowing Policy to be in conformity with the best practices. There is no report received throughout the financial year ended 31March 2020 thatwarranted the implementation of whistleblowing exercise. TheWhistleblowing Policy is published on the Company’s website at www.datasonic. com.my . 7. Anti-Bribery and Anti-Corruption Policy In line with the recent enforcement of Section 17A of the Malaysia Anti-Corruption Commission Act 2009 (“MACC Act”) which takes effect on 1 June 2020, the Board had approved the Anti-Bribery and Anti-Corruption Policy in May 2020. The Group is committed to conduct business dealings with highest level of integrity and ethics and to comply fully with applicable laws and regulatory requirements on anti-corruption. The Policy sets out the Group’s policies to prevent acts of bribery and corruption. The Group has adopted a zero tolerance approach against all forms of bribery and corruptions and takes a strong stance against such acts. The Anti-Bribery and Anti-Corruption Policy is published on the Company’s website at www.datasonic.com.my . 8. Project Level Budgeting Process A project-level budgeting process is implemented as part of the key initiatives of cost optimisation efforts which requires all appointed Project Directors and Project Managers of the awarded projects and key potential projects to prepare Project Budgets to monitor and control the expenditures incurred for each project. The Project Budgets are reviewed by the Senior Vice President of Operations, Senior Vice President of Finance, and relevant Management personnel and approved by the Executive Directors. 9. Non-Disclosure Agreement The Group has enforced Non-Disclosure Agreement (“NDA”) to be signed by all employees of the Group, consultants and key suppliers so as to protect and preserve the security of confidential and proprietary information from being wrongly disseminated or distributed to unauthorised parties. Statement on Risk Management and Internal Control (Cont’d)