GPERAK-AnnualReport2009 (1MB).pdf - Bursa Malaysia
GPERAK-AnnualReport2009 (1MB).pdf - Bursa Malaysia GPERAK-AnnualReport2009 (1MB).pdf - Bursa Malaysia
AUDIT COMMITTEE REPORT (Cont’d) INTERNAL AUDIT PLAN annual report 2009 | Gula peraK BerHaD (8104-X) Regular audits of the Company and each of its subsidiaries are compulsory at least once a year under the Annual Audit Plan. The priorities of the audits are determined via a risk assessment exercise in which subsidiaries of high-risk categories are given greater priority in the planned audit, although considerable emphasis is also given to subsidiaries in the Hotel Division. At least two regular audits a year are scheduled for Hotel subsidiaries. The Board and the Audit Committee can also request special audits to be conducted where deemed fit and necessary. The Audit Committee will review all internal audit reports with an emphasis on significant issues and critical risk areas affecting the overall performance of the Group. In order to ensure greater transparency and good corporate governance within the Group, the Audit Committee will discuss in detail the adequacy of each company’s internal control systems in addition to organizational and operational controls. The Audit Committee will further emphasize actions to be taken to rectify and improve the effectiveness and efficiency of operations of the subsidiary concerned. 2009 REvIEw During the year, five (5) Audit Committee meetings were held. The Audit Committee reviewed a total of five (5) audit reports. Summary of activities of the Group Internal Audit function during the year ended 31 March 2009 were as follows: • Regularly examining the controls over all significant Group’s operations and systems to ascertain whether the system established provides reasonable assurance that the Group’s objectives and goals were met efficiently and economically; • Quarterly review the latest numbers in the financial results before their approval by the Board; • Prepare the annual audit plan for deliberation by the Audit Committee; • Act on suggestions made by external examiners and/or senior management on concerns over operations or controls; • Issue audit reports which identify weakness and problems and make recommendations for improvements; • Determine whether corrective action was taken in achieving the desired results; • Monitor the integrity of the financial statements of the Company and matters relating to its financial affairs and those of its subsidiaries. EMPLOyEES SHARE OPTION SCHEME The Company does not have Employees Share Option Scheme. 23 www.gulaperak.com.my
www.gulaperak.com.my 24 annual report 2009 | Gula peraK BerHaD (8104-X) CORPORATE SOCIAL RESPONSIBILITY Corporate Social Responsibility (CSR) is an important and integral principle of our Company’s operating philosophy, engaging in initiatives such as environmental management, employee engagement, health and safety as well as community interactions and support. Our Company values its employees by providing a safe working environment. We encourage our employees to pursue personal and professional development by organizing a wide range of training programs under the banner of our hotels, to develop and improve the management and leadership skills, supporting internal promotions of our employees. Social events such as team building are also organized to promote greater teamwork as well as encourage interactions and communications amongst employees. Our Company also places importance on charity where we contribute to the local communities through donations to charities such as orphanage homes. Our Company also places emphasis on health and safety issues of its employees, customers and general public. As a good corporate citizen, we are very conscious of our responsibilities and often we engage local communities in the areas of our business operations. Through our active and sustainable environmental management policy, we strive to leave a small environmental footprint with the most minimal impact in our business operations. We encourage our employees as well as customers and hotel guests to share the same environmental vision of sustainability and protection. GPB is committed to our corporate social responsibility as we identify CSR as a key component to the success of our business. We seek to make continual improvements in our business policies to sustain the development and implementation of our CSR programs.
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annual report 2009 | Gula peraK BerHaD (8104-X)<br />
CORPORATE SOCIAL RESPONSIBILITY<br />
Corporate Social Responsibility (CSR) is an important and integral principle of our Company’s operating philosophy, engaging<br />
in initiatives such as environmental management, employee engagement, health and safety as well as community interactions<br />
and support.<br />
Our Company values its employees by providing a safe working environment. We encourage our employees to pursue personal<br />
and professional development by organizing a wide range of training programs under the banner of our hotels, to develop<br />
and improve the management and leadership skills, supporting internal promotions of our employees. Social events such as<br />
team building are also organized to promote greater teamwork as well as encourage interactions and communications amongst<br />
employees.<br />
Our Company also places importance on charity where we contribute to the local communities through donations to charities<br />
such as orphanage homes. Our Company also places emphasis on health and safety issues of its employees, customers and<br />
general public.<br />
As a good corporate citizen, we are very conscious of our responsibilities and often we engage local communities in the areas<br />
of our business operations. Through our active and sustainable environmental management policy, we strive to leave a small<br />
environmental footprint with the most minimal impact in our business operations. We encourage our employees as well as<br />
customers and hotel guests to share the same environmental vision of sustainability and protection.<br />
GPB is committed to our corporate social responsibility as we identify CSR as a key component to the success of our business.<br />
We seek to make continual improvements in our business policies to sustain the development and implementation of our CSR<br />
programs.