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GHL Systems Berhad
(293040-D)
Annual report 2015
In addition, all Directors are, from time to time, provided with reading materials and internal briefing pertaining
to the latest developments in areas relating to the Directors’ roles and responsibilities by Company Secretary or
by its members who attended relevant conferences and seminars. The External Auditors also briefed the Board
on any changes to the Malaysian Financial Reporting Standards that affect the Group’s financial statements
during the year.
UPHOLD INTEGRITY IN FINANCIAL REPORTING
Financial Reporting
The Board is committed to provide a balanced, clear and comprehensive assessment of the financial
performance and prospects in all the disclosure made to the stakeholders and the regulatory authorities. The
Board is responsible for ensuring that the financial statements give a true and fair view of the state of affairs of
the Group as at the end of the reporting period and of their results and cash flows for the period then ended.
The Board is assisted by the Audit and Risk Committee in governing the Group’s financial reporting processes
and the quality of its financial reporting such as in compliance with Malaysian Financial Reporting Standards.
Relationship with the Auditors
Through Audit and Risk Committee, the Group has established transparent and appropriate relationships with
the Group’s auditors, both external and internal. The total fee incurred for non-audit services rendered by the
external auditors during the financial year is disclosed in Note 28 of the Financial Statements section of this
annual report.
The statements on roles, duties and responsibilities of the Audit and Risk Committee in relation to both the internal
and external auditors is described in the Audit and Risk Committee Report as set out on pages 33 to 37 of this
Annual Report.
RECOGNISE AND MANAGE RISKS
The Board acknowledges its responsibility for the Group’s system of internal controls which covers financial,
operational and compliance controls as well as risk management. The Board has delegated to the Audit and
Risk Committee the responsibility of reviewing the effectiveness of control procedures and risk management
framework and to report to the Board on all its findings and recommendations for deliberations.
The Statement on Risk Management and Internal Control furnished in pages 38 to 41 of the Annual Report
provides an overview of the state of risk management and internal controls within the Group.
ENSURE TIMELY AND HIGH QUALITY DISCLOSURE
Timely release of announcements on quarterly and annual financial statements, annual report and analyst
presentations reflects the Board’s commitment to provide transparent and up-to-date disclosure to the public.
Leveraging on information technology for effective dissemination of information, the Group maintains a
corporate website,
www.ghl.com;which provides a comprehensive avenue for the shareholders and public to
access up-to-date information including the Company’s announcements, financial information, share prices,
and press releases of the Group.
Statement on
Corporate Governance