05 CORPORATE GOVERNANCE DATASONIC GROUP BERHAD 98 B. INTERNAL AUDIT FUNCTION The IAD is headed by Encik Norirman bin Nordin who is a Certified Internal Auditor (“CIA”) and a member of Institute of Internal Auditors Malaysia (“IIAM”). In compliance with paragraph 15.27 of Bursa Listing Requirements, the IAD function reports directly and functionally to the Audit Committee on the adequacy and effectiveness of the internal control systems. The purpose, authority and responsibility as well as the scopes of work of the Internal Audit Function are outlined in the approved Internal Audit Charter. To ensure that the responsibilities of IAD are fully discharged in accordance with the applicable professional standards and its approved charter, the Audit Committee reviews the adequacy of the scopes and resources of the IAD function as well as the competency and experience of the IAD personnel. The activities of the IAD for the financial year ended 31 March 2024 were carried out in accordance with the Annual Internal Audit Plan which has been approved by the Audit Committee. The audit reviews performed covered the business operations units and support services departments focusing on the adequacy and effectiveness of internal controls, compliance with applicable requirements, obligations and regulations, reliability and integrity of financial information as well as adequacy of safeguarding of assets. In order to determine the significant auditees and related auditable areas for the planned audit assignments, IAD had applied a risk-based audit approach in which all possible risk factors identified and compiled were assessed using high-level likelihood and consequence rating assessment and populated into the Likelihood and Consequence Matrix. The results of the audits performed by IAD were reviewed by the Audit Committee. The Internal Audit Reports were also presented and discussed at the Group Management Committee Meetings with concentration on matters of disputable observations and audit recommendations/corrective measures for appropriate resolutions prior to the Audit Committee meetings. The relevant Management members were made responsible to ensure the committed corrective actions were implemented within the committed timeframes. IAD conducted follow-up audits on the key findings to ensure that the corrective actions were implemented appropriately and as committed. The IAD is staffed with 6 personnel and all internal auditors possess tertiary qualifications with number of years of audit and work experience. The internal auditors are encouraged to continuously enhance their knowledge, skills and competencies through relevant professional audit certifications and always keep abreast of development in the profession and industry through continuous trainings and development activities appropriate to their respective levels. In order to maintain its independence and objectivity, IAD has no operational responsibility and authority over the audited activities. The Audit Committee remained satisfied that the IAD had sufficient resources during the financial year to undertake its duties effectively and able to function independently. The total costs incurred by the Internal Audit function in discharging its roles and responsibilities for the working period in the financial year ended 31 March 2024 amounted to approximately RM840,000. This Report was made in accordance with the resolution of the Board of Directors passed on 30 May 2024. COMMITTEE REPORT AUDIT
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