Download PDF - ChartNexus
Download PDF - ChartNexus
Download PDF - ChartNexus
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
annual report | 2012 Gunung Capital Berhad (330171-P)<br />
24<br />
CORPORATE GOVERNANCE STATEMENT (cont’d)<br />
5. UPHOLD INTEGRITY IN FINANCIAL REPORTING<br />
5.1 Compliance with Applicable Financial Reporting Standards<br />
The Board ensures the integrity of the Group’s financial reporting and fully recognises that accountability in financial<br />
disclosure forms an integral part of good corporate governance practices. The Board is responsible for ensuring<br />
that financial statements prepared for each financial year give a true and fair view of the Group’s state of affairs.<br />
The Directors took due care and reasonable steps to ensure that the requirements of accounting standards were<br />
fully met. Quarterly financial statements were reviewed by the Audit Committee and approved by the Board of<br />
Directors prior to their release to Bursa Securities.<br />
5.2 Assessment of Suitability and Independence of External Auditors<br />
The Audit Committee undertakes an annual assessment of the suitability and independence of the external auditors.<br />
Having assessed their performance, the Audit Committee will recommend their decision to the Board, upon which<br />
the shareholders’ approval will be sought at the AGM.<br />
6. RECOGNISE AND MANAGE RISKS<br />
6.1 Framework to Manage Risks<br />
The Board has established a sound framework to manage risks within the Group. The risk management and<br />
internal control system is regularly reviewed by Management and relevant recommendations is made to the Audit<br />
Committee and Board for approval. The Company continues to maintain and review its internal control procedures<br />
to ensure that its assets and its shareholders’ investments are protected.<br />
6.2 Internal Audit Function<br />
The Board has established an internal audit function within the Company, which reports directly to the Audit Committee.<br />
Details of the Group’s internal audit function are set out in the Audit Committee Report of this Annual Report.<br />
The Statement on Risk Management and Internal Control of this Annual Report provides an overview of the state<br />
of nternal control within the Group.<br />
7. ENSURE TIMELY AND HIGH QUALITY DISCLOSURE<br />
7.1 Corporate Disclosure Policy<br />
The Group has in place a procedure for compliance with the Listing Requirements of Bursa Securities. The Company<br />
Secretary reviews all announcements to ensure accuracy and compliance. The Board reviews and approves all<br />
quarterly and other important announcements. The Board is mindful that information which is material is<br />
announced immediately.<br />
Besides that, the Board believes that the Company’s Annual Report is a vital source of essential information for<br />
shareholders and investors and other stakeholders. The Company strives to provide a high level of reporting and<br />
transparency as an added value for users.<br />
7.2 Leverage on information technology<br />
The Group maintains the following website that allows all shareholders and investors access to information about<br />
the Group:<br />
www.gunung.com.my