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GHL Systems Berhad
(293040-D)
Annual report 2015
Audit and Risk
Committee Report
ATTENDANCE OF MEETINGS
The ARC held five (5) meetings during FY 2015. The Company Secretary is responsible for distributing the notice of
the meetings to the Committee members prior to their meetings and recording the proceedings of the meetings
there at. The details of attendance of the ARC members are as follows:
Name Of The Committee Member
Total Attendance Of Meetings
Fong Seow Kee
5/5
Goh Kuan Ho (resigned wef. 3rd March 2015)
1/1
Datuk Kamaruddin Bin Taib
5/5
Lim Sze Mei
5/5
The Group Chief Financial Officer (“CFO”) was invited to all ARC meetings to facilitate direct communication
in relation to the Group financial results while the Risk Management Committee (“RMC”) Chairman i.e. Group
Chief Executive Officer (“CEO”) was invited to all ARC meetings to provide information regarding the Group’s
Risk Management activities. The Head of Group Internal Audit (“GIA”), relevant members of Management, and
the External Auditors were also invited to attend the meetings of the Committee, where appropriate, to brief the
ARC on the relevant audit findings.
The ARC held two private meetings with the External Auditors in 2014 without the presence of the Management.
At these meetings, the ARC enquired about Management’s co-operation with the external auditors, their
sharing of information and the competencies and adequacy of resources in the financial reporting functions,
particularly in relation to the applicable Malaysian Financial Reporting Standards. The ARC Chairman also
permitted the External Auditors to contact him at any time that they became aware of incidents or matters in
the course of their audits or reviews that needed his attention or that of the ARC or Board. No such contacts
were made during FY 2015.
Minutes of each ARC meeting were recorded and tabled for confirmation at the following ARC meeting and
subsequently presented to the Board for notation.
SUMMARY OF ACTIVITIES DURING FINANCIAL YEAR ENDED 31st DECEMBER 2015
The ARC reports regularly to the Board on its activities, deliberations and recommendations in discharging its
duties and responsibilities as set out in its terms of reference, which the Committee has reviewed to ensure it
is in line with the Main Market Listing Requirements of Bursa Malaysia (“MMLR”), and the Malaysian Code on
Corporate Governance 2012 (“MCCG”).
The main activities undertaken by the Committee during the year are as below:
Regarding financial reporting:
a. Reviewed the Annual Report and the audited financial statements of the Group and the Company for FY
2015 together with the external auditors and Group CFO to ensure compliance of the financial statements
with the provisions of the Companies Act 1965 and the applicable approved accounting standards as per
the Malaysian Accounting Standards Board (“MASB”) prior to recommending the same to the Board for
approval.
b. Reviewed the quarterly unaudited financial results of the Company and the Group for FY 2015 together
with the Group CFO, focusing particularly on significant changes to accounting policies and practices,
compliance with accounting standards and other legal requirements prior to recommending the same to
the Board of Directors for approval and release to Bursa Malaysia.
c. Reviewed with the Management of the Group to ensure corporate disclosure policies and procedures of
the Group (pertaining to accounting, audit and financial matters) comply with the disclosure requirements
as set out in the MMLR.