GOVERNANCE 04 Sect ion Ranhi ll Ut i l i t i es Berhad 128 ADEQUACY AND EFFECTIVENESS OF THE GROUP’S RISK MANAGEMENT AND INTERNAL CONTROL SYSTEM Together with additional input from the Management, internal and external auditors, the Board is of the view and to the best of its knowledge that the system of risk management and internal control is satisfactory and adequate to safeguard the Group’s and Stakeholders’ interests, and Group’s assets. The Board has received reasonable assurance from the Chairman and Chief Executive and the Chief Financial Officer (“CFO”) that the Group’s risk management and internal control systems, in all material aspects, are operating adequately and effectively for the financial year under review and up to the date of approval of this Statement. The Group will continue to take measures to improve and strengthen the risk management and internal control environment. REVIEW OF THE STATEMENT BY THE EXTERNAL AUDITORS The External Auditors have performed limited assurance procedures on this Statement on Risk Management and Internal Control pursuant to the scope set out in Audit and Assurance Practice Guides 3 (“AAPG 3”) issued by the Malaysian Institute of Accountants and reported to the Board that nothing has come to their attention that causes them to believe the statement intended to be included in the Annual Report is not prepared, in all material respects, in accordance with the disclosures required by paragraphs 41 and 42 of the Statement on Risk Management and Internal Control – Guidelines for Directors of Listed Issuers, nor is the Statement factually inaccurate. AAPG 3 does not require the External Auditors to consider whether the Directors’ Statement on Risk Management and Internal Control covers all risks and controls, or to form an opinion on the adequacy and effectiveness of the Group’s risk management and internal control system including the assessment and opinion by the Directors and management thereon. The report from the External Auditors was made solely for and directed solely to the Board of Directors in connection with their compliance with the listing requirement of Bursa Securities and for no other purposes or parties. The External Auditors do not assume responsibility to any person other than the Board of Directors in respect of any aspect of this Report. This Statement is made in accordance with the resolution given by the Board of Director on 23 March 2023. Statement on R i sk Management and Internal Control
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