Areas of Focus Matters Considered Financial Reporting • Reviewed and recommended to the Board the audited financial statements for the financial year ended 31 December 2020 and the financial year ended 31 December 2021. • R eviewed the unaudited quarterly and half yearly financial result of BIMB and the Group. • R ecommended to the Board the proposed final single tier dividend for the financial year ended 31 December 2020 upon being satisfied with the solvency test. Related Party Transaction • Reviewed related party transactions as disclosed in the financial statements. Integrity & Governance • Reviewed and deliberated the updates on Corruption Risk Management Report and approved the implementation of divisional Corruption Risk Management as well as the risk action plan. • Reviewed and approved the implementation of Corruption Risk Management Review Plan. • R eviewed and deliberated the Integrity & Governance Division Reports, which include report on the investigation of fraud cases and whistleblowing cases. • Approved the creation of whistleblowing reporting channel for the subsidiaries. • Reviewed and deliberated the development of BIMB’s Organisational Anti-Corruption Plan (OACP). • R eviewed and noted the status of the implementation of Adequate Procedures to protect BIMB from Corporate Liability under Section 17A of MACC Act 2009 (Amendment 2018). TRAINING AND DEVELOPMENT All BAEC members have a wide range of relevant skills, knowledge and industry experience in discharging their duties. They are financially literate and able to understand, analyse and challenge the Management on matters deliberated in the meeting including the financial reporting process. The BAEC members are expected to devote sufficient time to update their knowledge and enhance their skills through appropriate continuing education programmes. During the year, the BAEC members attended several seminars and training conferences to keep abreast with the latest developments Details of the seminars and training programmes attended by each Director in 2021 can be found in the CG Report. PERFORMANCE REVIEW OF THE BAEC Based on the annual evaluation on the effectiveness of the Board, its Committees and the members of the Board, the Board is satisfied with the performance of the BAEC and its members. The BAEC has discharged its duties in accordance with its Terms of Reference and in line with the requirements of MCCG, BNM CG Policy and MMLR. Result of the annual evaluation on the BAEC for the financial year 2021 can be found in the CG Report. RELATIONSHIP WITH EXTERNAL AUDITORS The Board maintains a transparent and professional relationship with the External Auditors through the BAEC. The BAEC reviews and assess the suitability, objectivity and independence of the External Auditors annually. The appointment or reappointment of the External Auditors is carried out in accordance with the requirements set out by BIMB to ensure the independence and objectivity of the External Auditors as statutory auditors are not compromised. The External Auditors also provide non-audit services to BIMB. For engagement of the External Auditors to perform non-audit services, the BAEC has to be satisfied that the External Auditors are suitable, independent and objective in the provision of such services, there is no element of conflict of interest and the fees chargeable are within the allowable threshold set. BOARD AUDIT & EXAMINATION COMMITTEE REPORT BANK I SLAM MALAYS IA BERHAD 190
RkJQdWJsaXNoZXIy NDgzMzc=