FGV Annual Report 2015

135 WHO WE ARE & WHAT WE DO OUR STRATEGIC INTENT & PERFORMANCE HOWWE ARE GOVERNED CREATING SUSTAINABLE VALUE OUR NUMBERS ADDITIONAL INFORMATION DETAILS OF THE ANNUAL GENERAL MEETING ADDRESSING OUR RISKS & OPPORTUNITIES Felda Global Ventures Holdings Berhad Annual Integrated Report 2015 Statement on Corporate Governance Financial Reporting and Disclosure The Board ensures that Shareholders are presented with a clear, balanced and comprehensive view of FGV Group’s financial performance and prospects through the audited financial statements, quarterly announcement of results, the Chairman’s Statement, the Group President/Chief Executive Officer’s Business Review in the AIR as well as corporate announcements on significant developments affecting the Company and Group in accordance with the Bursa Securities Listing Requirements. Timely release of announcements reflects the Board’s commitment to provide up-to-date and transparent information on the Group’s performance. In the preparation of the financial statements, the Directors have considered compliance with all applicable Financial Reporting Standards, provisions of the Companies Act, 1965 and relevant provision of laws and regulations in Malaysia and the respective countries in which the subsidiaries, associates and joint venture companies operate. The Audit Committee assists the Board in reviewing both annual financial statements and the quarterly announcement of results to ensure the reports reflect a true and fair view of the state of affairs of the Group and Company. STATEMENT OF DIRECTORS’ RESPONSIBILITY IN PREPARING AUDITED FINANCIAL STATEMENTS The Companies Act, 1965 requires the Directors to prepare financial statements for each financial year in accordance with the Financial Reporting Standards and places responsibility on the Directors to ensure that the financial statements provide a true and fair view of the financial position of the Group and the Company and its financial performance and cash flows for the financial year ended. The Board is satisfied that it has met its obligation to present a balanced and understandable assessment of the Company’s position in the Directors’ Report on pages 175 to 178 and the Financial Statements set out on pages 175 to 347 of this Annual Integrated Report. Internal Controls The Board recognises that the ultimate responsibility for ensuring FGV Group’s sound internal control system and reviewing its effectiveness lies with the Board. The Board Committees each have defined roles as detailed in pages 110 to 128 of this Annual Integrated Report, aimed at supporting the Board’s oversight of proper implementation of governance, risk management and control systems. The Statement on Risk Management and Internal Control which provides the key features of the risk management framework and an overview of the internal control system of FGV Group is set out on pages 140 to 148 of this Annual Integrated Report. Whistleblowing Mechanism The Group has in place a Whistleblowing Policy and Procedures (“Policy”) to encourage transparent and ethical conduct within the Group. The Company has continuously reviewed the Policy, and the latest version was approved by the Board on 26 November 2015. The main objectives of this Policy are: 1. To provide avenues for employees to disclose any acts of wrongdoing. 2. To assure the employees that they will be protected from reprisals, discrimination or victimisation for whistleblowing in good faith. 3. To provide a formal mechanism for action on all reports made. This Policy allows individuals to report on alleged acts of wrongdoing within the Group such as, but not exhaustive to, the following: 1. Malpractice, impropriety, fraud and embezzlements. 2. Misappropriation of assets and funds. 3. Criminal breach of trust. 4. Illicit and corrupt practices. 5. Questionable or improper accounting. 6. Misuse of confidential information. 7. Acts or omissions, which are deemed to be against the interest of the Group, laws, regulations or public policies. 8. Breaches of any Group policies or Code of Ethics and Employee Conduct. 9. Attempts to deliberately conceal any of the above or other acts of wrongdoing. All reports or complaints received are treatedwith strict confidentiality and the reporting individual shall not be at risk of victimisation or retaliation for reporting in good faith. Dedicated channels of reporting have been set-up as secure mechanisms to report any concerns as follows: 1. Hotlines administered by the Group Governance Division through: a. Email to alert@feldaglobal.com b. Posting through e-Alert form on the Group’s portal. c. Call to the following hotline number: Country Hotline Number Indonesia 001 803 60 1940 USA 1 855 503 0531 Thailand 1 800 060 162 Malaysia 1 800-888-717 2. In writing or via email to specific Key Management identified in the Whistleblowing Policy.