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GHL Systems Berhad
(293040-D)
Annual report 2015
During FY 2015, the major activities undertaken by the internal audit function were as follows:
• Developed an annual internal audit plan.
• Continuous monitoring of the Group’s compliance with the MCCG Guide.
• Reviewed the adequacy and effectiveness of internal controls pertaining to key business processes of the
Group’s subsidiaries. Key areas audited include merchant recruitment process, fixed assets management
and human resource management.
• Undertake follow up audits on the implementation of action plans committed by Management to ensure
all previous audit findings highlighted are adequately addressed.
• Assisted the Committee and RMC in risk management function and facilitated the risk assessment of the
Group.
The Group has allocated a reasonable budget to enable the GIA team to attend briefings, conferences and
seminars organised by relevant professional bodies in order for the GIA team to stay abreast with the latest
developments in auditing standards globally.
The total cost incurred by GIA in discharging its functions and responsibilities, in respect of the financial year was
approximately MYR 175,564.
Audit and Risk
Committee Report