Audit Committee Report GROUP INTERNAL AUDIT DEPARTMENT The AC is supported by the GIA, headed by Premila Rajaratnam. Premila is a Fellow of the Association of Chartered Certified Accountants, a Chartered Accountant of the Malaysian Institute of Accountants and a Professional Member of The Institute of Internal Auditors Malaysia. She has more than 19 years of firm and commercial experience in internal audit, risk management, compliance and financial management (both strategic and operational), encompassing a wide array of industries. She reports functionally to the AC and administratively to the Group Chief Executive Officer of BHB. 1. The Group Integrity and Governance (GIG) functions independently, ensuring ethical governance, promoting transparency, and fostering integrity across the Group’s operations. Through conscientious oversight and enforcement of policies, the Group cultivates a culture of accountability, reinforcing stakeholder trust and preserving its reputation. 2. GIG diligently reviews and monitors anti-bribery measures, implementing robust internal controls to ensure compliance with the Group’s policies, procedures, and regulatory standards. By continuously assessing and refining these measures, the Group mitigates the risk of bribery and corruption, safeguarding its interests and those of its stakeholders. 3. GIG takes a proactive approach to educate the Group’s workforce on combating bribery and corruption. Its comprehensive training programs, thoughtfully crafted and regularly updated, empower employees to identify and prevent unethical practices, nurturing a culture of ethical conduct across the Group. Integrity and Governance The qualification and years of audit related experience of the GIA team as of 31 December 2023 are shown below: Qualifications (No. of Personnel) Years of Audit Related Experience (No. of Personnel) 1 3 4 5 4 Accounting/Finance Science; Engineering Economics Business Administration Information Technology Executive Directors 10 4 2 1 1 1 0 to 5 Years 6 to 10 Years 11 to 15 Years 16 to 20 Years More than 20 Years GIA’s principal responsibility is to evaluate and improve the effectiveness of the risk management, control and governance processes of BPlant and its subsidiaries and recommend improvements to the processes, where necessary. This is accomplished through a systematic and disciplined approach of regular reviews and appraisals of the management, control and governance processes based on the review plan that is approved by the AC annually. Boustead Plantations Berhad 126
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