Yinson Annual Report 2021

175 ANNUAL REPORT 2021 REPORT ON AUDIT COMMITTEE The Board is pleased to present the Report on Audit Committee for FYE 2021 in accordance with Paragraph 15.15 of the Bursa Malaysia Securities Berhad (“Bursa Securities”) Main Market Listing Requirements. TERMS OF REFERENCE The Audit Committee (“AC”) is formally constituted within the AC Terms of Reference, available on the Company’s website at www.yinson.com . COMPOSITION AND MEETINGS The AC comprises Independent Non-Executive Directors, with all members having a working familiarity with basic finance and accounting practices. One member, Dato’ Wee Hoe Soon @ Gooi Hoe Soon, is a member of the Malaysian Institute of Accountants. AC meetings are scheduled at least four (4) times a year with additional meetings scheduled as necessary. The AC met five (5) times in FYE 2021 as follows: COMPOSITION OF AUDIT COMMITTEE Name/ Designation Date of appointment No. of meetings attended % Dato’ Wee Hoe Soon @ Gooi Hoe Soon Chairman, Senior Independent Non-Executive Director 11 August 2016 5/5 100 Raja Datuk Zaharaton binti Raja Zainal Abidin Member, Independent Non-Executive Director 11 August 2016 5/5 100 Datuk Abdullah bin Karim Member, Independent Non-Executive Director 16 October 2018 4/5 80 Dato’ Mohamad Nasir bin AB Latif Member, Independent Non-Executive Director 1 October 2020 1/1 100 AC meeting notices, reports and papers, wherever possible, are uploaded to a digital meeting software and disseminated to AC members at least seven (7) days before meetings, providing the AC with relevant facts and analyses to facilitate effective discussion and decision-making processes. At the meetings, the AC reviews the risk management and internal control, financial reporting, internal and external audit functions within the Group. Minutes of meetings are duly recorded by the Corporate Secretary. To avoid conflict of interests, AC members must declare any interests they may have in any matters arising at the meetings. They will be excluded from deliberations and decisions in such matters and will also abstain from voting on the related resolutions at AC/ Board/ general meetings of the Company. SUMMARY OF WORK PERFORMED In FYE 2021, the AC carried out its duties in accordance with its terms of reference and the activities are summarised as follows: a) Risk Management and Internal Control t 3FWJFXFE UIF BEFRVBDZ BOE FGGFDUJWFOFTT PG UIF (SPVQ T SJTL NBOBHFNFOU JOUFSOBM DPOUSPM TZTUFN BOE NBOBHFNFOU information system. t 3FWJFXFE UIF FYUFOU PG DPNQMJBODF XJUI FTUBCMJTIFE JOUFSOBM QPMJDJFT TUBOEBSET QMBOT QSPDFEVSFT MBXT BOE SFHVMBUJPOT t 3FDPNNFOEFE UP UIF #PBSE TUFQT UP JNQSPWF UIF TZTUFN PG JOUFSOBM DPOUSPM EFSJWFE GSPN UIF mOEJOHT PG UIF JOUFSOBM BOE external auditors. t %JTDVTTFE BOE SFWJFXFE SJTL QSPmMF