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Shareholders also have the opportunity to communicate their views and discuss with the Board on matters affecting the
Company at the Annual and Extraordinary General Meetings (General Meetings). All shareholders are encouraged to attend
General Meetings and participate in the proceedings. Every opportunity is given to the shareholders to seek clarification from
Board members on the resolutions being proposed and the Group’s performance and activities.
Shareholders and investors can also access the Company’s website (www.umland.com.my) for Corporate information, the
quarterly financial results and all public announcements made by the Company.
A CCOUNTABILITY AND AUDIT
Financial Reporting
The Directors ensure that the financial statements are prepared in accordance with Companies Act, 1965 and the applicable
approved accounting standards set by the Malaysian Accounting Standards Board so as to present a balanced and
understandable assessment of the Group’s financial position and prospects.
Directors’ Responsibility Statement in respect of the preparation of the Annual Financial Statements
The Board is responsible for ensuring that the financial statements gives a true and fair view of the state of affairs of the Group
as at the end of the financial year and of the results and cashflow for the financial year then ended.
In preparing the financial statements, the Directors have ensured that relevant accounting policies were applied consistently
and made judgements and estimates that are reasonable and prudent. The Directors have also ensured that all applicable
accounting standards have been followed and financial statements were prepared on the going concern basis as the Directors
have a reasonable expectation, having made enquiries, that the Company and Group have adequate resources to continue in
operational existence for the foreseeable future.
The Directors also have responsibility for ensuring that the Company keeps accounting records which disclose with reasonable
accuracy the financial position of the Company and of the Group which enable them to ensure that the financial statements
comply with the provisions of Companies Act, 1965.
The Directors have overall responsibilities for taking such steps as are reasonably open to them to safeguard the assets of the
Group to prevent and detect fraud and other irregularities.
Internal Controls
The Board acknowledge their responsibility for the Group’s system of internal controls not only financial controls but also
operational and compliance controls as well as risk management.
The Directors’ Statement on Internal Control set out on pages 68 to 69 of this Annual Report provides an overview of the state
of internal control within the Group.
Relationship With The Auditors
The Board, through the Audit Committee maintains a transparent and professional relationship with the Company’s Auditors,
both external and internal. A full report of the Audit Committee enumerating its role in relation to the internal and external
auditors is set out on pages 70 to 72 of this Annual Report.
This statement is made in accordance with the Board’s resolution dated 30 March 2006.
UNITED MALAYAN LAND BHD