FGV Annual Report 2014

Fees paid/payable to Messrs. PricewaterhouseCoopers (PwC) in 2014 RM’000 Audit Fees • PwC Malaysia 3,259 • Member firm of PwC International Limited (PwCIL) 377 Audit Related Fees • PwC Malaysia and member firm of PwCIL 1,234 Other non-audit fees paid to PwC Malaysia and member firm of PwCIL 2,284 Total 7,154 On 25 March 2015, FGV established an External Auditor Policy to clearly state the Group’s stand on engagement, assessment and rotation of the Group’s external auditors and the boundaries for their engagement for non-audit services to maintain their independence. Corporate Integrity Pledge Since the signing of the Malaysian Corporate Integrity Pledge on 9 April 2012, FGV remains committed to uphold the integrity principles and strive towards creating a business environment that is free from corruption in the conduct of its business and in its interactions with its business partners and the authorities. In 2014, FGV, has undertaken several integrity initiatives: 1. Integrity Awareness Road Show 2013/2014 (“Jelajah Integriti”); 2. FGV Integrity Day 2014; 3. Launch of FGV Integrity Plan; 4. Integrity slogan contest; 5. Revision of Employee’s CoEC; 6. Revision of Gift, Entertainment & Hospitality Policy; 7. Distribution of Integrity Posters to all Clusters, corporate centres and subsidiaries; 8. Launch of Integrity Website and Portal on 27 January 2014; 9. Development of Integrity Handbook; 10. Review of Asset Declaration Policy; and 11. Special Integrity Course. Governance Initiatives Further, with the view of strengthening its corporate governance, FGV embarked on a new FGV Corporate Governance System. The key components of FGV Corporate Governance System are as follows: 1. FGV Corporate Governance Checklist FGV has completed the 1st Phase of Corporate Governance Checklist in FYE 2014. FGV launched its Board of Directors’ Manual on 26 November 2014. 2. FGV – Code on Corporate Governance (FGV-CoGC) FGV-CoGC shall strengthen the board structure and effective stewardship and guarding of FGV Group, set strategic direction, oversee the conduct of the business, comply with laws and ethical values and maintain an effective governance structure to manage risk and internal control appropriately. FGV-CoGC shall act as another controlling tool and guard rail as FGV Group’s businesses expand worldwide. The FGV-CoGC is on track for completion in FYE 2015. 3. FGV Corporate Governance Plan (FGV-CGP) FGV-CGP consists of a set of policies, roles, responsibilities and processes established within FGV Group. It guides, directs and controls business decisions and activities to enable FGV Group to achieve sustainable business. FGV- CGP will drive the FGV Group to focus on processes and structure in order to achieve business prosperity and discharges corporate accountability with the ultimate objective of long term value realisation for shareholders and stakeholders. The two key components of FGV-CGP are as follows: Introduction Performance Highlights About FGV Reports Financial Statements Others Strategy and Value Creation Performance Review & Progress Foreword to Shareholders Annual General Meeting Annual Report 2014 pg 137