KUMPULAN FIMA BERHAD
In the case where reporting to Management is a concern, then the report should be made to the Chairman
of Audit Committee. Channel of reporting to the Chairman of Audit Committee is as follows:
Encik Azizan bin Mohd Noor
Mark: Strictly Confidential
Kumpulan Fima Berhad
Suite 4.1, Level 4, Block C
No. 45, Jalan Medan Setia 1
Bukit Damansara, 50490 Kuala Lumpur
Attention: Chairman of Audit Committee
The above mechanism protects employees and stakeholders who contemplate to “blow the whistle” against
victimisation or harassment. The confidentiality of all matters raised and the identity of the whistleblower are
protected under the policy.
The key processes that the Board has established in reviewing the adequacy and integrity of the system of
internal control and risk management systems include the following:
4.1 Operational and follow-up audits are conducted throughout the financial year based on approved annual
audit plan to provide reasonable assurance that the systems of internal controls and its framework, and
governance processes put in place by Management continue to operate satisfactorily and effectively
and to add value and improve the Group’s business operations.
4.2 The Heads of Divisions meet on a monthly basis to consider Group’s financial performance, internal
audit reports, business development, legal/litigation, operational, and corporate issues.
4.3 There is a budgeting and forecasting system. Each line of business submits a business plan annually
for approval by the Board. The results of the lines of businesses are reported monthly and variances
are analysed against budget and acted on in timely manner. The Group’s strategic directions are also
reviewed annually taking into account changes in market conditions and significant business risks.
4.4 The periodic and streamlining review of limits of authority and other standard operating procedures
within the Group provides a sound framework of authority and accountability within the organisation and
to facilitate quality, well informed and timely corporate decision making at the appropriate level in the
4.5 The compliance function, which includes the Audit Committee and internal audit function, assists the
Board to oversee the management of risks and review the effectiveness of internal controls. The
Committee reviews reports of the Group Internal Audit (“GIA”) and also conducts annual assessment
on the adequacy of the GIA’s scope of work.