BIMB Integrated Annual Report 2017

CORPORATE GOVERNANCE OVERVIEW STATEMENT AUDIT & EXAMINATION COMMITTEE CHAIRMAN’S REPORT On behalf of the Audit & Examination Committee, I am pleased to present the Audit & Examination Committee’s report for the period under review to the shareholders of BHB. The purpose of this report is to apprise the shareholders and other stakeholders on the responsibilities and the performance of the Audit & Examination Committee during the period under review. The Audit & Examination Committee’s duties and responsibilities are carried out in accordance with its Terms of Reference (“ TOR ”). Discussions with the Internal Auditors, External Auditors and relevant members of the Management are held to ensure that the financial statements of the Company and the Group are appropriately prepared in compliance with the Malaysian Financial Reporting Standards (“ MFRS ”) and fairly present the financial position of the Group together with the results of its operations. The Audit & Examination Committee facilitates and assists the Board of Directors by reviewing the financial information, the system of internal controls which Management and the Board have established and reporting requirement to ensure compliance with the relevant laws and regulations. The Audit & Examination Committee also evaluates the performance of the Internal Auditors which is outsource to Bank IslamMalaysia Berhad (“ Bank Islam ”) as well as the External Auditors. The Audit & Examination Committee is primarily responsible for recommending the appointment, re-appointment and the removal of the External Auditors. In 2017, seven (7) Audit & Examination Committee meetings were held where we discussed numerous topics focusing on key issues on the effectiveness of internal control and reporting requirements in the Group’s business activities as well as the impact of the new MFRS 9. I am confident that the Audit & Examination Committee, supported by the Management and the External Auditors, has remained focus on its responsibilities and has carried out its duties in the year under review, effectively in accordance with its mandate and TOR. On behalf of the Audit & Examination Committee members, I would like to take this opportunity to express our sincere appreciation to Datuk Zaiton Mohd Hassan for her unconditional contribution and guidance during her tenure from 10 December 2014 until 1 February 2018 as the Chairman of the Audit & Examination Committee. PUAN NORAINI CHE DAN Chairman The Audit & Examination Committee facilitates and assists the Board of Directors by reviewing the financial information, the system of internal controls which Management and the Board have established and reporting requirement to ensure compliance with the relevant laws and regulations. PUAN NORAINI CHE DAN Chairman/Independent Non-Executive Director 114 BIMB HOLDINGS BERHAD Integrated Annual Report 2017