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Board Audit Committee Report4.2.5 The Notice and agenda for each BACmeeting with due notice of the issues tobe discussed shall be sent to all membersof the BAC and any other persons whomay be required to attend.4.2.6 The Chairman of the BAC shall report tothe Board on any matter that should bebrought to the Board’s attention andprovide recommendations of the BACthat requires the Board’s approval at theBoard meeting.4.2.7 The BAC may invite the GCFO, the GCIAor any other management personnel, anyrepresentative of the External Auditors,other members of the Board and anyother persons as deemed necessary bythe BAC to be present at any meetingof the BAC.5.0 DUTIES AND RESPONSIBILITIES OF THE BACIn carrying out its responsibilities, the BAC’s policiesand procedures remain flexible to changes incircumstances and conditions that are in compliancewith legal and regulatory requirements. The followingare the main duties and responsibilities of the BAC:5.1 Financial Reporting and Processesi) Review the quarterly interim results, halfyearlyresults and annual financialstatements of the Group prior to reportingand presenting to the Board for approval,focusing particularly on:a) Any changes in or implementation ofaccounting policies and practices;b) Significant or material adjustmentswith financial impact arising from theaudit;c) Significant and unusual events orexceptional activities;d) Decision making with material financialimpact;ii)e) The going concern assumptions; andf) Compliance with approved accountingstandards, stock exchange and otherregulatory requirements.Review with the External Auditors thefinancial statements of Axiata before theaudited financial statements are presentedto the Board for approval, including:a) Whether the External Auditors’ reportcontains any qualifications which mustbe properly discussed and acted uponfor purposes of resolving thecontentious point of disputes in thecurrent audit and to remove the causeof the External Auditors’ concern inthe conduct of future audits;b) Any changes in or implementation ofaccounting policies and practices;c) Significant and unusual events;d) Significant changes and adjustmentsin the presentation of the financialstatements;e) Compliance with local and internationalaccounting standards and other legalrequirements;f) Material fluctuations in balances in thefinancial statements;g) Significant variations in audit scopeand approach; andh) Significant commitments or contingentliabilities.and report the same to the Board.Axiata Group Berhad • 094