KENANGA ANNUAL REPORT 2020

75 ANNUAL REPORT 2020 // KENANGA INVESTMENT BANK BERHAD During these meetings, the AC sought the feedback from the External Auditors with regard to the support provided by Management in terms of providing timely and accurate information, as well as, the adequacy of resources in the financial reporting functions. Based on the External Auditors’ feedback, Management was noted to have provided full cooperation to the External Auditors in the course of the External Auditors’ audit assignments. The External Auditors had also indicated that Management had been very pro-active in approaching them for any issues arising during the year, which contributed to an effective audit planning by the External Auditors. 2.4 In fulfilling its reporting responsibility to the Board, after each meeting, the Chairman of the AC reported the AC’s deliberations and recommendations to the Board. The Minutes of each AC meeting were recorded and tabled for confirmation at the following AC meeting and subsequently presented to the Board for notation. 2.5 AC Members’ Attendance at Meetings The details of the AC members’ attendance at its meetings held during the Financial Year Ended 31 December 2020 are as stated below. Number of Meetings Name of Member Held (1) Attended Percentage (%) Jeremy Nasrulhaq (Chairman) 8 100% Izlan Izhab (Retired w.e.f. 1 January 2021) 8 100% Luk Wai Hong, William 8 100% Kanagaraj Lorenz 8 100% Ismail Harith Merican 8 100% NOTE (1) Total number of meetings held was inclusive of one (1) joint meeting between AC and GBRC. 3. SUMMARY OF THE AC’S ACTIVITIES DURING THE FINANCIAL YEAR ENDED 31 DECEMBER 2020 3.1 Financial Reporting a. In discharging its role and responsibility pertaining to the Company’s financial reporting, the AC had at its meeting held on 30 January 2020, reviewed the quarterly financial statements for the quarter ended 31 December 2019, as well as, the annual Audited Financial Statements for the Financial Year Ended 31 December 2019. In reviewing the annual audited financial statements, the AC discussed with Management and the External Auditors, the accounting principles and standards that were applied and their judgment of the items that might affect the financial statements. The AC also deliberated on audit issues and key audit matters raised by the External Auditors and the action plans required to address those issues, based on the External Auditors’ recommendations. 8/8 8/8 8/8 8/8 8/8