100 Additional Information We Are Kenanga Leadership Message Our Sustainability Approach How We Are Governed Financial Statements Shareholders’ Information • Fraud and Corruption Risk Assessments The extensive Fraud and Corruption Risk Assessment (“FCRA”) exercise continued spanning across the different departments, divisions and subsidiaries of Kenanga. The FCRA is a group-wide risk assessment conducted to assess the inherent fraud and corruption risks exposures and the associated processes and controls by which these exposures are mitigated. In carrying out the assessment by taking into consideration the propensity of fraud and corruption occurring, Kenanga assessed fraud and corruption risks against a set of ‘risk appetite’ metrics approved by the Board. The ‘Guidance on Conduct of Fraud and Corruption Risk Assessment’ is the guiding principle in conducting the FCRA which involves four (4) main core activities: Due to the extensiveness of the FCRA exercise which covers Kenanga group-wide, research and study have been carried out by GRCS to identify critical or higher risk departments, divisions and subsidiaries for exposure of fraud and corruption. This considers various benchmarked reports and surveys issued on the subject matters. Pursuant to the research and study, the FCRA will be conducted by prioritising the departments, divisions and subsidiaries identified with higher risk indicators towards completion of the whole exercise for Kenanga. • Survey on Effective Management of Ethics and Integrity in Kenanga Kenanga values views and opinions of our employees. The employees are always encouraged to express views and concerns as this would assist Kenanga to identify if there is any issue in order to implement the necessary preventive or corrective measures. On this basis, the Survey on Ethics and Integrity Culture at Workplace (“Ethics Survey”) was introduced. The employees were encouraged to respond to the Ethics Survey which was conducted for the third time to gauge their views and perceptions on policies and practices related to ethics and integrity in Kenanga. Similar to the previous two (2) Surveys, the Ethics Survey 2022 was also conducted by segregating the employees into three (3) different groups based on their seniority level and each group was requested to respond to a different set of questionnaires covering three (3) core values. Risk Monitoring Controls Evaluation Risk Measurement Develop response commensurate with the level of residual risk to address any identified gaps and to help mitigate the risk Identify controls already in place to determine if there are any residual risks remaining Risk Identification Identify fraud and corruption risks the division/ department/ subsidiaries could possibly be exposed Assess likelihood of fraud and corruption scheme occurring and potential impact of the scheme to identify inherent risk ETHICS AND COMPLIANCE STATEMENT
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