FGV Annual Integrated Report 2019

92 FGV HOLDINGS BERHAD RESPONSIBILITIES, OVERSIGHT AND INDEPENDENCE BOARD COMMITTEES The Board delegates certain responsibilities to several Board Committees, which operate within clearly defined Terms of Reference, primarily to assist the Board in discharging its responsibilities whilst the ultimate responsibility for the final decision lies with the full Board. All deliberations and decisions taken by the Board Committees are documented and recommended by the respective Board Committees prior to submission as Board papers for deliberation at Board meetings. The Board reviews the Board Committees’ authorities and Terms of Reference from time to time to ensure their relevance. AUTHORITY LIMITS The FGV Board’s delegation of powers to the Board Committees and the GCEO is aligned with the Board Charter and is expressly set out in the approved Group’s Limit of Authorities. The limits establish a sound framework of authority and accountability within the Group, including segregation of duties, which facilitates timely, effective and quality decision making at the appropriate levels in the Group’s hierarchy. The Terms of Reference of the Board Committees (Audit Committee, Nomination and Remuneration Committee, Board Governance & Risk Management Committee, Board Tender Committee and Investment Committee) are available on our website, www.fgvholdings.com The Board Committees’ composition and the record of their attendance can be found on page 89. HOW WE ARE GOVERNED HOW WE ARE GOVERNED: LEADERSHIP & EFFECTIVENESS