BOARD AUDIT AND RISK COMMITTEE REPORT The BARC plays a major role in corporate governance regarding the organisation’s direction, control, and accountability. The BARC is set up with the primary objective to assist the Directors (“Board of Directors” or the “Board”) in carrying out its duties and responsibilities in fulfilling its responsibility for oversight with respect to ensuring the integrity of the Company’s financial statements, performance of the Company’s independent auditors and internal audit function, risk management practices and internal control of the company. As a representative of the Board and main part of the corporate governance mechanism, the BARC is involved in the organisation’s both internal and external audits, internal control, accounting and financial reporting, regulatory compliance, and risk management COMPOSITION In line with the requirements of Paragraph 15.09(1)(a) and (b) of the MMLR of Bursa Securities, the composition of the BARC is as follows: MEMBERS 1. Abdullah Bin Abu Samah Chairman/Independent Non-Executive Director 2. Dato’ Wan Kamaruzaman Bin Wan Ahmad Independent Non-Executive Director 3. Datuk Sr. Akmal Bin Ahmad Non-Independent Non-Executive Director SECRETARIES 1. Nuraliza Binti Abd Rahman 2. Rohaya Binti Jaafar The BARC members are appointed by the Board and consist of not less than 3 members, all of whom shall be nonexecutive Directors with a majority of them being independent Directors. The Board elects a chairman who is an independent Director and who is not the chairman of the Board. The composition of the BARC shall fulfill the requirements as prescribed in the Listing Requirements. The Board, via the BNRC, annually reviews the terms of office and performance of the BARC and its members through an effectiveness evaluation exercise. The BNRC assessed the BARC’s performance for the financial year ended 31 December 2022 and was satisfied that the BARC and its members have discharged their functions, duties and responsibilities in accordance to the BARC’s Terms of Reference. MEETINGS AND ATTENDANCE NUMBER OF MEETINGS HELD AND DETAILS OF ATTENDANCE The BARC meets at quarterly intervals or such other intervals as the Committee shall decide. The BARC held four (4) regular meetings and two (2) special BARC meetings during the financial year ended 31 December 2022 which were attended by all members. AL-`AQAR HEALTHCARE REIT ANNUAL REPORT 2022 102
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