Datasonic Group Berhad Annual Report 2021

DATASONIC GROUP BERHAD 66 I. AC (Cont’d) The AC also received confirmation from Messrs Crowe Malaysia PLT that they will continuously comply with the relevant ethical requirements regarding professional independence with respect to the audit of the Group in accordance with the International Ethics Standards Board for Accountants’ Code of Ethics for Professional Accountants and the Malaysian Institute of Accountants’ By-Laws (On Professional Ethics, Conduct and Practice). The Board approved the AC’s recommendation for the Company to seek the shareholders’ approval for the re-appointment of Messrs Crowe Malaysia PLT as External Auditors of the Company at the forthcoming AGM. The Risk Management Committee (“RMC”) of the Company comprises of three (3) members, all of whom are Independent Non-Executive Directors. The RMC is chaired by an Independent Non-Executive Director, Dato’ Wan Mohd Safiain bin Wan Hasan. The RMC was established to assist the Board in overseeing risk management framework and policies in order to manage the overall risk exposure of the Group. The Board is responsible for ensuring that risks and opportunities are identified on a timely basis to continuously safeguard the shareholders’ investment and the Group’s assets. The Board is assisted by the Risk Management Committee to perform continuous review and monitor on the adequacy and effectiveness of risk mitigation plans and internal control measures pertaining to the key risks. The Statement on Risk Management and Internal Control made pursuant to Paragraph 15.26(b) of the MMLR of Bursa Malaysia is separately set out in this Annual Report. The Terms of Reference of the RMC is published on the Company’s website at www.datasonic.com.my . The Internal Audit function is ledby theChief Internal Auditor who reports functionally to the AC and administratively to the Managing Director. Details of the Group’s internal control systems are set out separately in the Statement on Risk Management and Internal Control and the AC Report in this Annual Report. II. RISK MANAGEMENT AND INTERNAL CONTROL FRAMEWORK PRINCIPLE B EFFECTIVE AUDIT AND RISK MANAGEMENT External Auditors and its Independence (Cont’d) External Auditors and its Independence (Cont’d) Internal Audit Function