CORPORATE GOVERNANCE OVERVIEW STATEMENT (continued) With the best interest of the Group in mind, and taking into consideration the sensitivity, privacy, security, issue of staff poaching, the Board has opted not to disclose on a named basis the top five senior management’s remuneration in the bands of RM50,000. Instead, the Company will disclose the top five senior management’s remuneration on an aggregate basis. The top five senior management’s remuneration on an aggregate for the FYE 31 August 2022, is as follows: RM’000 Salaries and bonus Other Emoluments 948 100 Total 1,048 Other than the above, the Company has arranged for Directors’ and Officers’ Liability Insurance to indemnify the Directors and officers of the Group against liabilities incurred by them during the discharge of their duties while in office. PRINCIPLE B : EFFECTIVE AUDIT AND RISK MANAGEMENT I. AUDIT COMMITTEE The Audit Committee comprises the following members: Chairman : Tang Yuen Kin (Independent Non-Executive Director) Members : Dato’ Salleh Bin Mohd Husein (Independent Non-Executive Chairman) Dato’ Noor Rezan Binti Bapoo Hashim (Senior Independent Non-Executive Director) Please refer to the Audit Committee Report contained in the Annual Report for more information. Relationship with the External Auditors The Audit Committee reviews and monitors the suitability and independence of the external auditors on an annual basis. In addition, the Audit Committee has obtained confirmation from the external auditors that they are and have been independent throughout the conduct of the audit engagement. For the FYE 31 August 2022, the fees incurred by the Group in relation to the non-audit services by the external auditors amounts to RM8,000. II. RISK MANAGEMENT AND INTERNAL CONTROL FRAMEWORK The Board recognises the importance of having effective governance, embedding risk management and internal control processes. The Board also acknowledges its overall responsibility for maintaining a sound risk management, internal control system and reviewing their adequacy and effectiveness in order to safeguard stakeholders’ investments and the Group’s assets. Details on the risk management and internal control system of the Group are set out in the Statement on Risk Management and Internal Control of this Annual Report. The Group has outsourced the internal audit function to a professional services firm, Sterling Business Alignment Consulting Sdn Bhd, which is independent of the activities and operations of the Group. The outsourced internal auditors report directly to the Audit Committee. Details on the internal audit function are set out in the Audit Committee Report and the Statement on Risk Management and Internal Control of this Annual Report. 48 SASBADI HOLDINGS BERHAD
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