FGV Annual Report 2013

Each internal audit assignment is undertaken based on a careful planning to focus on covering management of risks to achieve objectives; economy, efficiency and effectiveness of operations; safeguard of assets; accuracy, reliability and timeliness of reported information; and compliance with laws, regulations and internal policies and procedures. In addition, Group Internal Audit also has a dedicated investigative team that undertakes investigations of fraud, misconduct, negligence, etc. reported. The outcome of the internal audits together with Management’s corrective actions are reported to the Audit Committee every quarterly. During the financial year, Group Internal Audit has undertaken the following main activities: a) Carried out audits according to the Group Internal Audit Plan approved by the Audit Committee and reported the findings, recommendations and management’s corrective action to the Audit Committee every quarterly. b) Undertook investigative assignments and investigative audits based on the Audit Committee or Management’s requests and reported the outcome of such investigations to the Audit Committee. c) Undertook follow-up audits to determine that correction actions have been taken on the findings reported by Group Internal Audit and accordingly report the status to the Audit Committee every quarterly. d) Undertook follow-up of the matters reported by the external auditor in its Audit Committee report. e) Formulated Group Internal Audit’s Standard Operation Procedures based on the Institute of Internal Auditors’ International Standards and the Group Internal Audit Charter. f) Proposed the establishment of a Governance and Risk Management Division to manage the Board’s responsibilities on risk management, governance and controls. g) Undertook a reviewof theGroup Internal Audit Charter, the Terms of Reference of the Audit Committee and the Whistleblowing Policy. h) Participated in advisory capacity in working groups for the review of the Group’s Discretionary Authority Limits and Related Party and Recurrent Related Party Transactions Policy. The total cost incurred for Group Internal Audit for the financial year ended 31 December 2013 is RM11.59 million (2012 : RM9.59 million). STATEMENT BY THE BOARD This Report is made in accordance with a resolution of the Board of Directors and approved at the Board meeting dated 29 April 2014. Setiap tugasan audit dalaman dilaksanakan berdasarkan perancangan yang teliti bagi memberi tumpuan ke atas liputan pengurusan risiko untuk mencapai objektif; ekonomi, kecekapan dan keberkesanan operasi; perlindungan aset; ketepatan, kebolehpercayaan dan ketepatan waktu maklumat yang dilaporkan; dan pematuhan undang- undang, peraturan serta dasar dan prosedur dalaman. Di samping itu, Audit Dalaman Kumpulan juga mempunyai pasukan penyiasatan khas yang menjalankan penyiasatan berhubung penipuan, salah laku, kecuaian, dan lain-lain yang dilaporkan. Hasil daripada audit dalaman berserta tindakan pembetulan pihak Pengurusan dilaporkan kepada Jawatankuasa Audit setiap suku tahun. Pada tahun kewangan ini, Audit Dalaman Kumpulan telah melaksanakan aktiviti-aktiviti utama berikut: a) Menjalankan audit menurut Rancangan Audit Dalaman Kumpulan yang telah diluluskan oleh Jawatankuasa Audit dan melaporkan penemuan, saranan dan tindakan pembetulan oleh pihak pengurusan kepada Jawatankuasa Audit setiap suku tahun. b) Melaksanakan tugasan penyiasatan dan audit penyiasatan berdasarkan permintaan Jawatankuasa Audit dan pihak pengurusan sertamelaporkan keputusan penyiasatan berkenaan kepaa Jawatankuasa Audit. c) Menjalankan audit susulan untuk menentukan bahawa tindakan pembetulan telah diambil berhubung penemuan yang dilaporkan oleh Audit Dalaman Kumpulan dan seterusnya, melaporkan status audit tersebut kepada Jawatankuasa Audit setiap suku tahun. d) Menjalankan tindakan susulan terhadap perkara-perkara yang yang dilaporkan oleh juruaudit luar dalam laporan Jawatankuasa Auditnya. e) Merangka Proseur Operasi Piawai Audit Dalaman Kumpulan berdasarkan Piawaian Antarabangsa Institut Juruaudit Dalaman dan Piagam Audit Dalaman Kumpulan. f) Mencadangkan pembentukan Bahagian Tadbir Urus dan Pengurusan Risiko untuk mengurus tanggungjawab Lembaga Pengarah terhadap pengurusan risiko, tadbir urus dan kawalan. g) Melaksanakan kajian ke atas Piagam Audit Dalaman Kumpulan dan TermaRujukan JawatankuasaAudit sertaDasar Pendedahan Maklumat. h) Mengambil bahagian dalam kapasiti penasihat dalam kumpulan kerja bagi mengkaji Had Kuasa Budi Bicara dan Dasar Urusniaga Pihak Berkaitan dan Urusniaga Pihak Berkaitan yang Berulang Kumpulan. Jumlah kos yang ditanggung untuk Audit Dalaman Kumpulan bagi tahun kewangan berakhir 31 Disember 2013 adalah sebanyak RM11.59 juta (2012 : RM9.59 juta). PENYATA OLEH LEMBAGA PENGARAH Laporan ini disediakan selaras dengan resolusi Lembaga Pengarah dan diluluskan dalam mesyuarat Lembaga Pengarah bertarikh 29 April 2014. Felda Global Ventures Holdings Berhad 169