Operations Review - ChartNexus

Statement on Internal Control
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The BRMC was established to deliberate major risks highlighted by the management and
assist the Board in reviewing Group’s risk policies and strategies.
For the financial year ended 31 March 2009, the GRMC and BRMC have held quarterly
meetings in accordance with their respective terms of reference.
Assurance Mechanism
Apart from risk management activities, the Board and Management have established
other processes for identifying, evaluating and managing significant risks faced by the
Group. They continue to strive in enhancing and implementing the internal control system
to manage those risks that could affect the Group’s growth and financial viability. These
processes include updating the system of internal controls when there are changes to the
business environment or regulatory guidelines. The key elements of the Group’s control
environment include:
Board Committees
Board Committees were established by the Board to assist the Board in the execution of
its responsibilities to provide oversight on the effectiveness of the Group’s operations.
The responsibilities and authority of the Committees are governed by specific terms of
reference and these Committees are accountable to the Board.
The Board Committees are:
• Audit Committee
• Nomination and Remuneration Committee
• Risk Management Committee (“BRMC”)
• Disciplinary Committee
• PROTON Board Executive Committee (“EXCO”)
The details of the abovementioned Board Committees are set out in the Statement of
Corporate Governance.
Board Audit Committee
The Board has delegated the duty of reviewing and monitoring the effectiveness of the
Group’s system of internal controls to the Board Audit Committee (BAC).