Download - Axiata Group Berhad - Investor Relations

Statement on Internal Control1.2 Board Committees• Board CommitteesTo promote corporate governance andtransparency, in addition to the Board, theGroup has BAC, BNC and BRC (collectively‘Board Committees’) in place. These BoardCommittees are established to assist theBoard in its oversight of internal controls,Board effectiveness, nomination andremuneration of the Group’s Directors andthe Group’s top key positions. The BoardCommittees also ensure the effectiveness ofthe Group’s operations and that the Group’sactions and operations are in accordancewith approved strategies, objectives,business plans and policies. The responsibilitiesand authority of the Board and BoardCommittees are governed by clearly definedToR.• BACThe main responsibilities of the BAC,comprising of independent non-executivemembers of the Board, are to assist theBoard in discharging its statutory and otherresponsibilities relating to internal controls,financial reporting and accounting matters,compliance, and risk management. The BACreviews and approves the Internal AuditCharter and approves a risk-based internaland external audit plans. The BAC holdsregular meetings to deliberate on findingsand recommendations for improvementsfrom both the internal and external auditorson the state of the system of internalcontrols, management actions and monitorthe implementation of preventive andcorrective actions for areas with significantand high risks. The BAC has authority toinvestigate any matter within its terms ofreference and has full cooperation of andaccess to Management. It has direct accessto the internal and external auditors and fulldiscretion to invite any Director to attendits meetings.1.3 Organisation Structure• Clear Organisation StructureThe Group has in place an appropriateorganisational structure led by functionalHeads that promotes good corporategovernance, provides for proper segregationof duties, promotes ownership andaccountability for risk taking and defineslines of accountability and delegatedauthority for planning, executing, controllingand monitoring business operations.• Corporate CentreA Corporate Centre has been established toplay an advisory role to add value to thesubsidiaries at varying engagement levels.The broad roles of the Corporate Centre areas follows:1. Supporting role to the Group’s NomineeDirector(s)/Board;2. S u p p o r t i n g r o l e t o s u b s i d i a r ymanagement/Board; and3. Supporting role to subsidiary FunctionalHeads.Besides engaging in continuous day-to-daycommunication between subsidiaries andthe Group functions, Corporate Centre alsogives appropriate inputs and steers theGroup on best practices through sharing ofthe Group’s guidelines and best strategiesto minimise risk exposure and to increasethe efficiency and effectiveness of businessoperations.Annual Report 2009 • 081