Yinson Annual Report 2020

179 Annual Report 2020 Statement on Directors’ Responsibility The Directors are required to prepare financial statements which give a true and fair view of the financial position of the Group and of the Company as at 31 January 2020, and of the results and cash flows of the Group and of the Company for the financial year then ended, in accordance with the requirements of Malaysia Financial Reporting Standards (“MFRS”), International Financial Reporting Standards (“IFRS”) and the requirements of Companies Act 2016. In preparing the financial statements, the Directors have: • used appropriate accounting policies that are consistently applied; • made judgments and estimates that are prudent and reasonable with advice from certain industry professional where applicable; • ensured that all applicable MFRS and IFRS reporting requirements have been followed; and • prepared the financial statements on a going concern basis. The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Group and of the Company. The Directors are also responsible for safeguarding the assets of the Group and the Company by taking reasonable steps for preventing and detecting of fraud and other irregularities.

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