STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL KEY ELEMENTS OF INTERNAL CONTROL (CONT’D) 20. The Manager launched its Anti-Bribery & Corruption Policy and the Whistleblowing Policy effective 1 June 2020, which is guided by the Guidelines on Adequate Procedures issued under section 17A(5) of the MACC Act to mitigate corruption and integrity risks. On 2 March 2022, the revised Whistleblowing policy with enhanced procedures and clear process flow and responsibilities was tabled and approved by the Board. The Board, on 2 June 2022 has also approved the No-Gift and No-Entertainment Policy which is a part and parcel to combat bribery and corruption in an organization. 21. The Personal Data Protection (“PDP”) Policy was approved by the Board in prior year to provide assurance to its data owners – tenants, directors and employees that their personal data will be safeguarded and protected by the Fund. The Manager carried out a refresher briefing on PDP Policy on 25 July 2022 and ensure that all employees undertook a pledge to safeguard and protect the data of the tenants, directors, employees, and other stakeholders. 22. The Board also approved the Anti-Money Laundering and Anti-Terrorism Financing Policy in 2021 to commit with the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (“AMLA”). The Manager uses its best endeavours to meet the requirements imposed and all applicable laws to commensurate with the nature of the Company’s businesses and activities. 23. The Group has established processes and procedures to ensure the quarterly and annual reports, which cover the Group’s performance, are submitted to Bursa Malaysia for release to shareholders and stakeholders on a timely basis. All quarterly results are reviewed by the Board prior to their announcements. The Annual Report of the Group is issued to the shareholders within the stipulated time as prescribed under the MMLR of Bursa Securities. INTERNAL AUDIT The internal audit function is outsourced to an independent professional consulting firm, Messrs. PKF Risk Management Sdn Bhd (“PKF”), which adopts the International Professional Practices Framework (“IPPF”) in carrying out the internal audit assignments and reports directly to the BARC. The team from PKF is led by Dr. Wong Ka Fee, the Director of Risk and Governance Advisory. He possessed doctoral degree in Behavioural Finance and Master of Science in Management Consultancy. Dr. Wong Ka Fee has over 15 years of experience in a wide range of governance advisory, risk and internal audit work. The Internal Audit Team (“IAT”) at PKF consists of 10 permanent internal audit personnel staffs who are qualified in the areas on internal audit and assurance. All the internal PKF audit personnel involved are free from any relationships or conflicts of interest, which could impair their objectivity and independence. IAT adopts a risk-based approach in executing the annual audit plan that focuses on major business units and/or operations. The annual audit plan is reviewed and approved by the BARC. The IAT reports directly to the BARC on the outcome of its appraisal of the operational activities. Significant audit findings are presented and deliberated by the BARC on a quarterly basis or as appropriate. The IAT also monitors the implementation of audit recommendations in order to obtain assurance that all major risks and controls measures identified have been reasonably addressed by the management in an effective and timely manner. AL-`AQAR HEALTHCARE REIT ANNUAL REPORT 2022 124
RkJQdWJsaXNoZXIy NDgzMzc=