The Directors are required by the Companies Act 2016 (“the Act”) to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Group and of the Company at the end of the financial year under review and their results and cash flows for the financial year then ended. As required by the Act and the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the financial statements have been prepared in accordance with the applicable approved accounting standards in Malaysia. In preparing the financial statements of the Group and the Company for the financial year ended 31 August 2023, the Directors have: • adopted suitable accounting policies and applied them consistently; • made judgments and estimates that are prudent and reasonable; • ensured applicable approved accounting standards have been complied with, subject to any material departures being disclosed and explained in the financial statements; and • prepared the financial statements on a going concern basis. The Directors are responsible for ensuring that the Group and the Company keep proper accounting records which disclose with reasonable accuracy at any time the financial position of the Group and the Company. The Directors are also responsible for taking such reasonable steps to safeguard the assets of the Group and the Company and to prevent and detect fraud and other such irregularities. This statement is made in accordance with the resolution of the Board dated 7 December 2023. Statement On Directors’ Responsibility ANNUAL REPORT 2023 SASBADI HOLDINGS BERHAD 69
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