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Annual Report 2014 | S P SETIA BERHAD GROUP | 85

3.2 Relationship with External Auditors

The external auditors play an important role in ensuring the reliability of the Company’s financial statements and providing the

assurance of accuracy to shareholders. The Board via the Audit Committee maintains a formal and transparent professional

relationship with the Group’s external auditors. The role of the Audit Committee in relation to the auditors is described in the Audit

Committee Report set out on page 90 to page 91 of this Annual Report.

3.3 Risk Management and Internal Control

The Board maintains a sound risk management framework and system of internal control to safeguard shareholders’ investment

and the Group’s asset.The Statement on Risk Management and Internal Control which provides an overview of the state of internal

controls within the Group is set out on pages 93 to 94 of this Annual Report.

3.4 Internal Audit Function

The Group has an in-house Internal Audit Department known as Governance Advisory Department that reports directly to the Audit

Committee. The internal audit function is described in the Audit Committee Report set out on page 92 of this Annual Report.


4.1 Corporate Disclosure Policy

The Company is committed to ensure that all information such as corporate announcements, circular to shareholders and financial

results are disseminated to the general public in a timely and accurate manner.

The Company’s quarterly interim and full year audited financial results are released within two (2) months from the end of each

quarter/financial year and the Annual Report, which remains a key channel of communication, is published within four (4) months after

the financial year end. The Annual Report is not merely a factual statement of financial information and performance of the Group;

but through the Chairman’s Statement and the President’s Report provides an insightful interpretation of the Group’s performance,

operations, and other matters affecting shareholders’ interest. It is hoped that such insights will allow shareholders and investors to

make more informed investment decisions based not only on past performance but also the future direction of the Group.

4.2 Leverage on information technology

The Group maintains a website which serves as a forum for the general public to access information on the latest developments.

Corporate presentations, annual report, corporate announcements and financial information utilised during analyst and fund manager

briefings are also available on the Group’s website.


5.1 AGM and Extraordinary General Meeting (“EGM”)

The Company’s AGM and EGMs remain the principal forum for dialogue and communication with shareholders, in particular private

investors. Shareholders are encouraged to attend each AGM and EGM and given sufficient time and opportunity to participate in

the proceedings, ask questions about the resolutions being proposed and the operations of the Group, and communicate their

expectations and possible concerns. Presentations will also be given by the President/CEO to brief shareholders on project updates

or proposals for which the approval of shareholders is being sought. All Board members, Senior Management and the Group’s

external auditors as well as the Company’s adviser are available to respond to shareholders’ questions during the AGM/EGM as the

case may be. In accordance with the Articles of Association, voting at general meetings will be conducted by show of hands or by

poll if so demanded by the shareholders or Chairman of the meeting. Poll voting will be carried out in resolutions involving related

party transactions as required by the Listing Requirements.

corporate Governance Statement

IV. Corporate Governance