Roles and Responsibilities The BAEC assists the Board in ensuring a reliable and transparent financial reporting process and internal control system are in place within the Group and provides an independent oversight on the effectiveness of the internal and external audit functions. The detailed roles and responsibilities of the BAEC are set out in its Terms of Reference, which was last reviewed on 5 October 2021 and is available on BIMB’s website at www.bankislam.com. The BAEC of BIMB is committed to its role of ensuring strong corporate governance practices and providing independent oversight on the Group’s financial reporting and internal control system. This report provides an insight into the activities of the BAEC during the financial year under review. MEETINGS During the financial year under review, eight (8) BAEC meetings were held. This satisfies the BAEC Terms of Reference, which requires the BAEC to meet at least four (4) times a year. The Group Chief Executive Officer (Group CEO), the Group Chief Internal Auditor (GCIA), the Group Chief Compliance Officer, the Group Chief Operating Officer, the Group Chief Human Resources Officer and the Group Chief Legal Officer and Company Secretary, who is also the Secretary to the BAEC, attend the BAEC meetings. In addition, the Group Chief Financial Officer and any Management representatives were invited to the meeting, where required, to present and facilitate the deliberation on any specific issues arising from the relevant reports presented. The External Auditors were also invited to the meeting to present the audited financial statements, the half-yearly unaudited financial reports, the Management Letters, the Audit Plan and other relevant matters. During the financial year 2021, the BAEC had two (2) private sessions with the auditors without the presence of the Management to review the scope and adequacy of BIMB’s audit process, the annual financial statements and their audit findings. In addition, all BAEC members have given their full commitment to the BAEC meetings held in 2021 as indicated in their satisfactory meeting attendance record shown below:- Name Meeting Attendance % Noraini Che Dan Independent Non-Executive Director/Chairman • Deceased on 26 August 2021 5/5 100 Mohd Yuzaidi Mohd Yusoff Independent Non-Executive Director • Appointed as InterimChairman w.e.f. 3 September 2021 8/8 100 Mohamed Ridza Mohamed Abdulla Non-Independent Non-Executive Director 8/8 100 Dato’ Sri Khazali Ahmad Independent Non-Executive Director 8/8 100 Zahari @Mohd Zin Idris Non-Independent Non-Executive Director • Retired w.e.f. 20 September 2021 5/5 100 Mashitah Haji Osman Independent Non-Executive Director • Appointed w.e.f. 3 September 2021 and ceased to be a member on 7 January 2022 3/3 100 Datuk Nik Mohd Hasyudeen Yusoff Non-Independent Non-Executive Director • Appointed w.e.f. 20 September 2021 and ceased to be a member on 7 January 2022 3/3 100 BOARD AUDIT & EXAMINATION COMMITTEE REPORT BANK I SLAM MALAYS IA BERHAD 188
RkJQdWJsaXNoZXIy NDgzMzc=