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FIMA CORPORATION BERHAD
(21185-P) |
Annual Report
2016
•
Code of ethics are established and adopted by the Board and all employees to ensure high standards of
conduct and ethical values in all business practices.
•
The Group has in place a whistle blowing policy to provide an avenue for employees or other stakeholders
to raise genuine concerns about possible improprieties in matters relating to financial reporting, compliance
and other malpractices or misconduct that may have occurred. The policy is available in the Governance
section of the Company’s website at
www.fimacorp.com.•
Major contracts are awarded by a Tender Committee comprising of Senior Management. A minimum of three
quotations is called for and tenders are awarded based on criteria such as quality, track record and speed of
delivery.
ADEQUACY AND EFFECTIVENESS OF THE GROUP’S RISK MANAGEMENT AND INTERNAL CONTROL
SYSTEM
The Board has received assurance from the Managing Director and Financial Controller that the Group’s overall
risk management and internal control system is operating adequately and effectively, in all material aspects,
based on the risk management and internal control system of the Group. No material losses, contingencies or
uncertainties have arisen from any inadequacy or failure of the Group’s risk management and internal control
system that would require separate disclosure in the Group’s Annual Report.
REVIEW OF THE STATEMENT BY EXTERNAL AUDITORS
Pursuant to paragraph 15.23 of the MMLR, the external auditors have reviewed this Statement and reported to
the Board that nothing has come to their attention that causes them to believe that this Statement is inconsistent
with their understanding of the process adopted by the Board in reviewing the adequacy and integrity of internal
controls.
This statement is made in accordance with a resolution of the Board of Directors dated 3 June 2016.
STATEMENT ON RISK MANAGEMENT
AND INTERNAL CONTROL
(contd.)