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AEMULUS HOLDINGS BERHAD
A N N U A L R E P O R T 2 0 1 6
Statement on Risk Management
and Internal Control
(Cont’d)
OTHER KEY ELEMENTS OF INTERNAL CONTROL
Apart from risk management and internal audit, the Group has put in place the following key elements of internal control:
• An organisation structure with well-defined scopes of responsibility, clear lines of accountability, and appropriate levels
of delegated authority;
• A process of hierarchical reporting which provides a documented and auditable trail of accountability;
• A set of documented internal policies and procedures which is subject to regular review and improvement;
• Regular and comprehensive information provided to management, covering financial and operational performance and
key business indicators, for effective monitoring and decision making;
• Consistent monitoring of results against budget, with major variances being followed up and management action taken,
where necessary; and
• Close involvement in the daily operation by the senior management.
REVIEW OF THIS STATEMENT BY EXTERNAL AUDITORS
As required by Paragraph 15.23 of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad, the external
auditors have reviewed this Statement on Risk Management and Internal Control. Their review was performed in accordance
with Recommended Practice guide (“RPG”) 5 issued by the Malaysian Institute of Accountants. RPG 5 does not require the
external auditors to form an opinion on the adequacy and effectiveness of the risk management and internal control systems
of the Group.
CONCLUSION
The Board has received assurance from the Group’s Chief Executive Officer and Chief Financial Officer that the Group’s risk
management and internal control systems have been operating adequately and effectively, in all material aspects, during
the financial year under review and up to date of this statement. Taking this assurance into consideration, the Board is of the
view that there were no significant weaknesses in the current system of internal control of the Group that may have material
impact on the operations of the Group for the financial year ended 30 September 2016. The Board and the management will
continue to take necessary measures and ongoing commitment to strengthen and improve its internal control environment
and risk management.
This statement is issued in accordance with a resolution passed in the Board of Directors’ meeting held on 18 January 2017.