ENRA Group Berhad Annual Report 2021

CORPORATE GOVERNANCE Annual Report 2021 | ENRA Group Berhad 25 PRINCIPLE B – EFFECTIVE AUDIT AND RISK MANAGEMENT (CONT’D) I. Audit and Risk Management Committee (Cont’d) The ARMC is satisfied in its review that the provision of non-audit services by Messrs. BDO PLT to the Group for the financial year ended 31 March 2021 did not in any way impair their objectivity and independence as external auditors of ENRA. On an annual basis, the ARMC would review and monitor the suitability and independence of the external auditors. The ARMC is satisfied with the competence and independence of the external auditors and had recommended the re-appointment of Messrs. BDO PLT as external auditors for shareholders’ approval at the 29th Annual General Meeting. II. Risk Management and Internal Control Framework The Board is ultimately responsible for the establishment of a sound framework to manage risks. The President & Group Chief Executive Officer oversees these risk management processes and activities and reports to the Board. The Management assists the Board in the implementation of the Board’s policies and procedures on risk management and internal control. The Board acknowledges its responsibility for the Group’s systems of internal control and risk management and for reviewing the effectiveness of those systems. Such systems are designed to manage rather than eliminate the risk of failure to achieve business objectives. Any system can only provide a reasonable but not absolute assurance against material misstatement, loss or fraud. The Statement on Risk Management and Internal Control as set out on pages 72 to 78 in this Annual Report provides an overview of the management of risks and state of internal controls within the Group. The Company has in its employment, an internal auditor (“Internal Auditor”) who reports directly to the Chairman of the ARMC. The internal audit function reviews the controls and processes of the organisation in accordance with the approved audit plan which adopts a risk-based approach towards planning and audit execution. The scope of work covered by the internal audit function during the financial year is set out on page 71 of this Annual Report. PRINCIPLEC- INTEGRITY INCORPORATEREPORTINGANDMEANINGFULRELATIONSHIPWITHSTAKEHOLDERS I. Communication with Stakeholders The Board recognises the importance of effective and timely communication with shareholders and the investors to ensure they make informed decisions. ENRA keeps shareholders abreast of the financial performance and the future developments of the Group by way of the annual report, announcements of quarterly financial results and significant transactions made through Bursa Securities as well as press releases. ENRA, through its internal Investor Relations representatives and active participation of its Management team, maintains regular two-way communication with the investment community, media and its financiers to keep them updated with the latest developments. ENRA’s website is regularly updated to provide information relevant to shareholders and other stakeholders. The website also has an email alerts service where shareholders and anyone who are interested may register to receive the latest news and announcements on the Group. The Group adopted an Investor Relations/Stakeholder Communication Policy to provide accurate and timely disclosure of corporate and other related information to enable informed and orderly decision-making by our stakeholders. The Investor Relations/Stakeholder Communication Policy is available on ENRA’s website (www.enra. my). CORPORATE GOVERNANCE OVERVIEW STATEMENT