2012 Annual Report - Media Prima Berhad

Internal Control
The Boards acknowledges its responsibility for the
Group’s system of internal controls and risk
management and for reviewing the effectiveness of
these systems. Such systems are designed to manage
rather than eliminate the risk of failure to achieve
business objectives. Any system can only provide a
reasonable but not absolute assurance against
material misstatement, loss or fraud.
The Statement on Risk Management and Internal
Control furnished on pages 120 to 127 of the Annual
Report provides an overview on the state of risk
management and internal controls system within the
Group.
Corporate Responsibility
The Group’s corporate responsibility initiatives are
explained in our Sustainability Report 2012.
Relationship with the Auditors
The Board has established a formal, transparent and
appropriate relationship with the Group’s auditors,
both external and internal, through the Audit
Committee.
The Audit Committee meets regularly with the
External and Internal Auditors to discuss and review
the audit plan, quarterly financial results, annual
financial statements and the audit findings, and makes
recommendations for the Board’s approval. During
the year, the Board has also met with the External
and Internal Auditors without the presence of the
Executive Directors and Management.
A report by the Audit Committee and its Terms of
Reference are provided on pages 128 to 134 of the
Annual Report.
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E. STATEMENT OF DIRECTOR’S
RESPONSIBILITY IN RELATION TO THE
AUDITED FINANCIAL STATEMENTS
The Board is responsible for the preparation of the
financial statements of the Group and the Company.
The Board has ensured that the financial statements
have been prepared based on accounting policies
that have been consistently and properly applied,
supported by reasonable and prudent judgements
and estimates and in adherence to all applicable
accounting standards.
It is also the Board’s responsibility to ensure that
accounting records are accurate, within margins of
reasonableness, which discloses the financial position
of the Group and the Company in a true and fair
manner.
This Statement on Corporate Governance is made in
accordance with the resolution of the Board of
Directors dated on 20 February 2013.
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annual
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2012
From Our Perspective Who We Are Our Strategy & Achievements Our Performance Our Responsibility Our Leadership Corporate Governance The Financials Additional Information