122 Additional Information We Are Kenanga Leadership Message Our Sustainability Approach How We Are Governed Financial Statements Shareholders’ Information At the same meeting, the AC had also granted its concurrence on the Chairman’s Statement and the Group Managing Director’s Management Discussion & Analysis for incorporation into KIBB’s 2021 Annual Report. The AC’s recommendation was subsequently approved by the Board of KIBB on 3 March 2022 and 6 April 2022 respectively. 3.8 List of Disciplinary Actions Meted Out on Employees’ Misconducts within KIBB Group The list of disciplinary actions meted out on KIBB Group’s employees who had committed misconduct was tabled by Group Human Resource for the AC’s notation at its meetings held on 25 January 2022, 28 April 2022 and 25 October 2022. 3.9 Post Approval Review by Independent Credit Review (“ICR”) Unit Pursuant to Paragraph 17.5 of BNM’s Policy Document on Credit Risk, the outcomes of independent credit reviews are required to be escalated directly to the Board Risk Committee, Board Audit Committee and Senior Management. In fulfilling the aforementioned requirement, ICR Unit of Group Risk Management, upon completion of its review, would table the review report to the AC for its deliberation. In this regard, during 2022, the AC had deliberated on the following ICR review reports tabled by the ICR Unit: Date of AC Meeting Titles of Review Report 24 February 2022 Post Approval Review of Kenanga Capital Islamic Sdn Bhd 24 February 2022 Review of Treasury Bond Portfolio 21 July 2022 Post Approval Review on Share Margin Financing During its deliberation, the AC had taken note of the findings raised by the ICR Unit arising from the respective reviews, as well as the recommendations made by the ICR Unit together with Management’s action plans in addressing those findings. 3.10 Integrity, Regulatory and Governance a. KIBB Group had implemented the following policies to facilitate its adherence to the Guidelines on Adequate Procedures issued pursuant to Section 17A (5) of the Malaysian Anti-Corruption Commission Act 2009, and to keep abreast with the best practices and high standards of ethics and integrity: i. Group Conflict Management Policy; ii. Group Incoming Non-Commercial Sponsorship Policy; and iii. Group Gifts, Entertainment and Hospitality Policy. In line with the requirement specified in these polices, the information in relation to actual, potential or perceived conflicts, sponsorships, gifts, entertainment and hospitality, which fell within the scope of these policies received from the employees will be compiled and relevant report will be tabled by Group Business Ethics and Integrity (“GBEI”) to the AC for its notification on an annual basis. In relation thereto, the AC at its meeting held on 25 January 2022 had taken note of the summary of information submitted by the employees within KIBB Group to GBEI for the period from December 2020 until December 2021. AUDIT COMMITTEE REPORT
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