5.7 Internal Audit Function The internal audit function is performed by the Group Internal Audit (“GIA”), where their primary responsibility is to provide independent and objective assurance in assisting the Group to accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance. The Head of GIA has functional reporting to the AC and administratively reports to the Managing Director/Group Chief Executive Officer. All the internal audit activities and processes are performed as guided by the approved Internal Audit Charter and the GIA Standard Operating Procedure. The GIA is in conformance with the International Standards for the Professional Practice of Internal Auditing. The Board ensures that the Group has an effective governance, risk management and internal control framework. For more information pertaining to the internal audit activities, please refer to the AC Report on pages 103 to 107 of this Annual Report. 6. CORPORATE RESPONSIBILITY Throughout 2023, the Group has undertaken various initiatives to create a positive and momentous impact on the lives of others, within the community and the environment in which it operates, as set out in the Sustainability Statement on pages 46 to 91 of this Annual Report. 7. SUSTAINABILITY The Company has come a long way from a medium sized Malaysian enterprise to where the Group is today. It is through resilience and fortitude that the Group has been growing from strength to strength, meeting challenges along the way and succeeding in branching further aloft. As at today, the Group is a significant player in its core businesses and is sustaining growth on the global business landscape. The Company develops, implements and maintains sound management systems for sustainable development and growth that drive continual improvement. While maintaining sustainable growth, the Company is committed to create an open, diverse, friendly and safe workplace which is part of the Group’s core values. Besides, the Company places utmost priority and is fully committed to its Health, Safety and Environment policy and objectives with the aim of ensuring health and safety of our people as well as protection of the environment that the Group operates in by promoting and improving the health and welfare of the workforce, maintaining an accident-free work environment, eliminating occupational injuries, preventing pollutions by reducing carbon footprint, preventing wastages by promoting the efficient use of resources, recycling initiatives, optimising the use of natural resources and conserving energy. The Group is dedicated in supporting the local communities within which it operates and through its corporate responsibility programmes, the Company will continue to implement initiatives to contribute back to the society and local communities. A separate Report on Sustainability is as set out on pages 46 to 91. 8. CORPORATE DISCLOSURE POLICIES AND PROCEDURES The Board has established a Corporate Disclosure Policies and Procedures aiming at effectively handling and disseminating the corporate information timely and accurately to its shareholders, stakeholders, potential investors and the public in general as required by Bursa Malaysia. The Corporate Disclosure Policies and Procedures are available on the Company’s website at www.wascoenergy.com. Corporate Governance Overview Statement 139 Wasco Berhad
RkJQdWJsaXNoZXIy NDgzMzc=