ENRICHING LIVES EXPANDING HORIZONS - Maxis

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232 Corporate Governance INTERNAL CONTROL STATEMENT Continued To support the implementation and effectiveness of the Code, there is an established Office of Business Practice to provide policy guidance and to facilitate compliance. The Office of Business Practice will continuously look at ways to enhance the Group’s highest standards of business conduct and ethics, and to benchmark these against best practices. The Company has also established the Ethics Hotline, a safe and effective channel to allow employees or parties dealing with us to report any observed behavioural inconsistencies which are not in accordance with the general standards and business ethics. 5. Revenue Assurance The Revenue Assurance department is responsible for the continuous monitoring of potential revenue leakage that may arise from day-to-day operations. Processes and controls within the revenue cycle are reviewed on a rotational basis to ensure they function effectively and efficiently. This includes performance and examination of regular test calls, reconciliations of calls from switches to the billing systems and independent rating of calls via automated tools. These findings are reported to the Management. Since September 2011, the quarterly review has been changed to a half-yearly review where key issues on identified revenue leakages and the corresponding action taken are reported to the Audit Committee. The Revenue Assurance Working Committee meets quarterly to address key revenue assurance issues and drive revenue assurance initiatives across the Group. 6. Subscriber Fraud Management The Subscriber Fraud Management (SFM) function complements the Revenue Assurance function. Whilst the Revenue Assurance function reviews controls within the revenue cycle as indicated above, the SFM function monitors daily subscriber calls on a near real-time basis. Appropriate actions are taken immediately for suspected fraudulent calls, using an industry developed system to monitor call patterns on a 24/7 basis throughout the financial year and other manual reporting investigations. It also reviews key new services and products for possible fraud risk and recommends counter-measures. Fraud findings with remedial actions taken are reported half-yearly to the Management and the Audit Committee. 7. Business Continuity Planning The Business Continuity Planning (BCP) is responsible for identifying activities and operations that are critical to sustaining business operations in the event of a disaster. These activities include facilitating the building of additional redundancies in network infrastructure and establishing alternate sites where key operational activities can be resumed. A risk-based approach is applied in identifying the key initiatives and their levels of importance by reviewing critical systems and singlepoint failures as well as their impact on the business of the Group as a whole. During the financial year, selected critical areas as identified by risk priority were tested to assess the effectiveness of the implemented BCP initiatives. These tests were successfully executed and the progress of these initiatives was reported monthly to the Management and presented half-yearly to the BCP Steering Committee and the Audit Committee. 8. Regulatory The Regulatory function reports to the Chief Financial Officer. It ensures compliance with the Communications and Multimedia Act 1998 (CMA), and its subsidiary legislation, which regulate the Group’s core business in the communications and multimedia sector in Malaysia. As a licensee under the CMA, the Group adheres to its licensing conditions, as well as economic, technical, social and consumer protection regulations embedded in the CMA and its subsidiary legislation. The Group actively participates in new regulatory and industry development consultations initiated by the regulator SKMM. The Regulatory function also frequently engages the SKMM and the Ministry of Information Communication and Culture in discussions on pertinent industry issues.
MAXIS BERHAD ANNUAL REPORT 2011 233 9. Legal The Legal department plays a pivotal role in ensuring that the interests of the Group are preserved and safeguarded from a legal perspective. It also plays a key role in advising the Board and Management on legal and strategic matters. The Board is briefed through reports to the Audit Committee as and when there are any changes in applicable provisions of the law. 10. Limits of Authority A Limits of Authority (LOA) manual sets out the authorisation limits for various levels of Maxis’ Management and staff and also those matters requiring Board approval to ensure accountability, segregation of duties and control over the Group’s financial commitments. The LOA manual is reviewed and updated periodically to reflect business, operational and structural changes. 11. Policies and Procedures There is extensive documentation of policies, procedures, guidelines and service level agreements in manuals and on the Group’s intranet site including those relating to Financial, Contract Management, Marketing, Procurement, Human Resources, Information Systems, Network Operations, Legal, System and Information Security Controls. Continuous control enhancements are made in line with Maxis’ new and growing business strategy including the strengthening of controls over device management. 12. Financial and Operational Information A detailed budgeting and reporting process has been established. Comprehensive budgets are prepared by the operating units and presented to the Board before the commencement of a new financial year. Upon approval of the budget, the Group’s performance is then tracked and measured against the approved budget on a monthly basis. Reporting systems which highlight significant variances against plan are in place to track and monitor performance. These variances in financial as well as operational performance indices are incorporated in detail in the monthly management reports. On a quarterly basis, the results are reviewed by the Board to enable them to gauge the Group’s overall performance compared to the approved budgets and prior periods. 13. Systems and Information Security The Systems and Information Security department (SIS) is responsible for continuously monitoring and resolving security threats to the Company both internally and externally. This includes conducting security awareness, vulnerability assessment and penetration test programmes, and compliance audits on the IT systems and Networks of Maxis to reduce the impact of service interruption due to attacks, negligence and malware. The effectiveness of the security programme is validated by external security consulting companies. Apart from the internal security compliance programmes, SIS is also targeting to seek and maintain compliance of several regulatory and industry security programmes, namely: ISO27001:2005, Payment Card Industry/Data Security Standard, and the Personal Data Protection Act 2010 by end of 2012. SIS is governed by a group of Maxis Senior Leadership team members who will meet quarterly to direct and approve the corporate security policies and standards set by the department and security projects undertaken by the team. It is also responsible for updating the Audit Committee at least annually on the Company’s security status.
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ENRICHING LIVES EXPANDING HORIZONS
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CONTENTS Introduction 2 Our Company
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MAXIS BERHAD ANNUAL REPORT 2011 3 I
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MAXIS BERHAD ANNUAL REPORT 2011 5 C
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MAXIS BERHAD ANNUAL REPORT 2011 7 I
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MAXIS BERHAD ANNUAL REPORT 2011 9 2
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Maxis Berhad Annual Report 2011 77
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• ALIGNED TO CORPORATE STRATEGY A
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100 Financial Statements DIRECTORS
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106 Financial Statements INCOME STA
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108 Financial Statements STATEMENTS
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116 Financial Statements NOTES TO T
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Page 204 and 205: 202 SMALL SHOP, BIG DREAMS In busin
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Page 244 and 245: 242 Analysis of Shareholdings DISTR
Page 246 and 247: 244 Analysis of Shareholdings 30 LA
Page 248 and 249: 246 Analysis of Shareholdings INFOR
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286 Other Information GLOSSARY 2G S
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288 Other Information GLOSSARY Cont
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290 MAXIS EXCLUSIVE PARTNERS CENTRA
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292 Other Information MAXIS EXCLUSI
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302 Annual General Meeting NOTICE O
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NOTES
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fold here STAMP Maxis Berhad (86757
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fold here STAMP Maxis Berhad (86757
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ENRICHING LIVES EXPANDING HORIZONS - Maxis

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