6. SUMMARY OF ACTIVITIES
During the year 2015, the Committee carried out the
following activities:
a.
Financial results
i.
Reviewed the quarterly unaudited financial
result announcements before recommending
the same to the Board for approval; and
ii.
Reviewed the Company’s compliance, in
particular the quarterly and year-end financial
statements, with Bursa Malaysia Listing
Requirements, Malaysian Financial Reporting
Standards and other relevant legal and
regulatory requirements.
b.
Risk Management
i.
Reviewed the system in place to identify,
assess, mitigate and monitor Group-Wide Risk
Assessment in order to promote and improve
risk management awareness and processes;
and
ii.
Reviewed the risk profile of the Group and
major initiatives that had significant impact on
the business.
c.
Internal Audit
i.
Reviewed and approved the revised Audit
Charter;
ii.
Reviewed and approved the annual Audit Plan
for the year 2014/2015 to ensure adequate
r e sou r ce s , compe t enc i e s a s we l l a s
comprehensive audit scope and coverage over
the significant and high risk audit activities;
iii. Deliberated on the Internal Audit Reports that
were tabled and appraised the adequacy of
Management’s responsiveness to the audit
findings and recommendations;
iv. Evaluated the results of scheduled follow-ups,
investigations and special audits performed and
confirmed that the appropriate actions were
taken to correct the weaknesses;
v.
Assessed the status of audit activities as
compared to the approved annual Audit Plan;
and
vi. Deliberated on the results and opportunities for
improvement identified from the Quality
Assessment Review (QAR) by a qualified
independent assessor and was updated on the
progress of recommendation made.
d.
External Audit
i.
Reviewed the audit plan, audit strategy and
scope of work for the year;
ii.
Reviewed the results of the annual audit, audit
reports and Management Letter together with
Management’s response to their findings;
iii. Assessed the independence and objectivity of
the External Auditors during the year and prior
to the appointment of External Auditors for ad-
hoc non-audit services. The Committee also
received from the External Auditors their
policies and written confirmation regarding
their independence and the measures used to
control the quality of their work;
iv. Assessed the performance of the External
Auditors and recommended their appointment
and remuneration to the Board of Directors;
and
v.
Met with the External Auditors without the
presence of Management to discuss matters
that they may wish to present.
e.
Related Party Transactions
Reviewed on a quarterly basis the related party
transactions and recurrent related party transactions
entered into by the Group as well as any conflict of
interest situation that arises within the Group.
f.
Annual Reporting
Reviewed and recommended the Statement on Risk
and Internal Control, Audit Committee Report as well
as Statement on Corporate Governance for Annual
Report, prior to Board approval.
195
KPJ Healthcare Berhad
Annual Report
2015
