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STATEMENT ON<br />
CORPORATE GOVERNANCE (CoNT’D)<br />
RElATIONSHIp WITH THE ExTERNAl AuDITORS<br />
Masterskill Education Group Berhad / Annual Report 2012<br />
31<br />
The Board via the Audit Committee maintains an appropriate, formal and transparent relationship with the Group’s external auditors.<br />
The Audit Committee meets the external auditors without the presence of the management, wherever necessary, and at least twice a<br />
year. Meetings with the external auditors are held to further discuss the Group’s audit plans, audit findings, financial statements as well<br />
as to seek their professional advice on other related matters. From time to time, the external auditors inform and update the Audit<br />
Committee on matters that may require their attention.<br />
The role of Audit Committee in relation to dealing with the auditors is described in the Audit Committee Report set out on pages<br />
32 to 34 of this Annual Report.<br />
INTERNAl CORpORATE DISClOSuRE pOlICIES AND pROCEDuRES<br />
Along with good corporate governance practices, the Company is committed to provide to investors and the public with comprehensive,<br />
accurate and material information on a timely basis.<br />
DIRECTORS’ RESpONSIBIlITy STATEmENT<br />
The Board is required by the Act to prepare annual audited financial statements for each financial year which have been made out<br />
in accordance with the applicable approved accounting standards and the provisions of the Act. The Board is responsible to take<br />
reasonable steps to ensure that the financial statements give a true and fair view of the state of affairs of the Group and the Company,<br />
and of their results and cash flows for the financial year then ended.<br />
The Board of Directors are required under Paragraph 15.26 of the MMLR to issue a statement explaining their responsibility for<br />
preparing the annual audited financial statements.<br />
In preparing the annual audited financial statements of the Group and the Company for the financial year, the Board has:<br />
• adopted suitable accounting policies and applied them consistently;<br />
• where applicable, made judgments and estimates that are reasonable and prudent;<br />
• ensured that applicable approved accounting standards have been followed; and<br />
• confirmed that the annual audited financial statements have been prepared on a going concern basis.<br />
The Board has ensured that the Group and Company keep proper accounting and other records that will disclose with reasonable<br />
accuracy at any time the financial position of the Group and the Company, and which enable them to ensure that the annual audited<br />
financial statements comply with the Act and the applicable approved accounting standards.<br />
This Directors’ Responsibility Statement is made in accordance with the resolution of the Board dated 26 April 2013.