CHAIRMAN Datuk Bazlan Osman Independent Non-Executive Director Member of Malaysian Institute of Accountants MEMBERS Nuraini Ismail Independent Non-Executive Director Member of Malaysian Institute of Accountants Dato’ Prof. Dr Noor Inayah Ya’akub Independent Non-Executive Director Appointed to be a member w.e.f. 7 April 2023 Mohd Yuzaidi Mohd Yusoff Independent Non-Executive Director Ceased to be a member w.e.f. 7 April 2023 MEMBERSHIP BAEC comprises three (3) members, all of whom are Independent Non-Executive Directors. This is in accordance with Practice 9.4 of the Malaysian Code on Corporate Governance 2021 (MCCG 2021). BAEC’s Chairman, Datuk Bazlan Osman is a member of the Malaysian Institute of Accountants (MIA) and a Fellow of the Association of Chartered Certified Accountants (ACCA). The presence of a member of the BAEC who is a member of the MIA is to comply with Paragraph 15.09(1)(c)(i) of the Main Market Listing Requirements (Listing Requirements) of Bursa Malaysia Securities Berhad (Bursa Securities) which stipulates that at least one (1) member of AC must be a member of the MIA. Datuk Bazlan Osman is an Independent NonExecutive Director and he is not the Chairman of the Board. This is consistent with the requirements in Practice 1.4 of the MCCG 2021. ROLES AND RESPONSIBILITIES The BAEC is committed to carry out its duties in ensuring that the Group has in place an internal control system that is reliable, transparent, and independently monitor the performance of the internal and external audit functions. The BAEC is a Committee of the Board that supports the Board in ensuring there is a reliable and transparent financial reporting process and internal controls system within the Group. The BAEC also oversees the effectiveness of the internal and external auditors of the Group. The BAEC is a committee that has been delegated by the Board and therefore has the explicit authority to look into any situation that falls within the scope of its mandate. It has complete Management’s access, support, and discretion to invite any Director to attend its meetings. In addition, the BAEC has complete and unrestricted access to information and can, if necessary, seek independent professional advice, with any associated costs being covered by the Group. The detailed roles and responsibilities of the BAEC are set out in its Terms of Reference, which was last reviewed on 9 October 2023 and is available on Bank Islam’s website at www.bankislam.com. The BAEC of Bank Islam is dedicated to fulfilling its responsibilities in ensuring sound corporate governance procedures and offering independent oversight of the Group’s financial reporting and internal controls system. This report gives readers a glimpse into the BAEC’s activities during the financial year under review. 225 1 2 3 4 5 6 7 8 9 www.bankislam.com ACCOUNTABILITY Board Audit & Examination Committee (BAEC) Report
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