Page 91 - S P Setia Annual Report 2016
P. 91

S P Setia Berhad Group                                 Our Business | Our Performance Review | Our Leadership and People   89
          Annual Report 2016                                        | Our Achievements and Accolades | Our Sustainability Statement
                                                                   | Our Governance | Our Financial Statements | Other Information




                                                          Statement of Risk Management and Internal Controls


          REVIEW OF THIS STATEMENT

          The External Auditors have reviewed this Statement for inclusion in the Annual Report for the financial year ended 31 December 2016, 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 processes adopted by the Board in reviewing the adequacy and integrity of the systems of internal control.


          ASSURANCE FROM MANAGEMENT

          For the financial year under review, the Board has received a written assurance from the President and Chief Executive Officer, Deputy
          President and Chief Operating Officer and Chief Financial Officer that the Group’s risk management and internal control systems, in all
          material aspects, are operating adequately and effectively. There were no material control failures or adverse compliance events that directly
          resulted in any material loss to the Group.

          Taking into consideration the information and assurance given by the President and Chief Executive Officer, Deputy President and Chief
          Operating Officer and Chief Financial Officer, the Board is satisfied that the risk management and internal control systems in place for the
          year under review and up to the date of approval of this Statement are sound and effective to safeguard the interest of all shareholders, the
          Group’s assets, and other stakeholders. The Board has deliberated and approved the recommendations brought forth by the Risk Management
          Committee and Audit Committee.

          The Board will continue to monitor all major risks affecting the Group and take necessary measures to mitigate them and continue to
          enhance the adequacy and effectiveness of the risk management and internal control systems of the Group.

          This Statement was approved by the Board of Directors on 2 March 2017.
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