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The objective of the policies and proceduresis to ensure that internal control principlesor mechanisms are embedded in operations.This enables the Group to respond quicklyto evolving risks and immediately report onany significant control failure.• Budgeting ProcessA comprehensive annual budgeting processis in place to evaluate the feasibility andviability of the Group’s businesses and toensure that the Group’s OpCos BusinessPlans are in line with the Group’s futurestrategic planning. Annual budgets areprepared by the Group and its OpCos andpresented and discussed during Boardretreats to their respective Board and tothe Board of Axiata for approval before thecommencement of a new financial year.Upon approval of the budget, the Group’sperformance is then monitored and measuredagainst the approved budget periodically bythe Senior Leadership Team (SLT), whichcomprises the President & GCEO and alldivisional heads. The Group’s performance isalso reported to the BAC and the Board.Reporting systems which highlight significantvariances against plan are in place to trackand monitor performance. On a quarterlybasis, the results are reviewed by the Boardto enable them to gauge the Group’s overallperformance compared to the approvedbudgets and prior periods and to takeremedial actions where necessary.• Whistleblower Policy and ProceduresA whistleblower policy and its relatedprocedures were put in place in the Groupin 2009 which enables employees to raisematters in an independent and unbiasedmanner.As part of this whistleblower policy andprocedures, there is an anonymous ethicsand fraud hotline under the administrationof the GCIA to act as a mechanism forinternal and external parties to channel theircomplaints or to provide information inconfidence on fraud, corruption, dishonestpractices or other similar matters byemployees of the Group. The objective ofsuch arrangement is to encourage thereporting of such matters in good faith, withthe confidence that employees making suchreports will be treated fairly and, to theextent possible, be protected from reprisal.• Insurance and Physical SafeguardThe Group has an insurance programme inplace to ensure that its assets are sufficientlycovered against any mishap that will resultin material losses. The Group also ensuresthat its major assets are physicallysafeguarded.3.2 Security (Application and IT Network)• Disaster Recovery Plans (DRP) and BusinessContinuity Plans (BCP)DRP have been put in place for some of theGroup’s subsidiary companies. The Group iscurrently developing a Group BCP Policyand Procedures to be implemented andtested periodically by its subsidiarycompanies.• Information Technology (IT) PolicyIT policies and procedures are in place toachieve and maintain confidentiality,integrity, availability, authenticity andreliability of information or informationprocessing facilities. The Board of Directorsunderstands the necessity to leverage andoptimise IT investments and resources forthe best interest of the Group and tosafeguard its IT resources, intellectualproperty management and information.Axiata Group Berhad • 084