Quality - UAC Berhad

Report of The Audit Committeeefghijdiscussed and reviewed the Group's financial year end statements with the external auditors including issues andfindings noted in the course of the audit of the Group Financial Statements;reviewed the enterprise risk management framework and the effectiveness of the system of internal control of the Group;reviewed and discussed with the internal auditors their evaluation of the system of internal control of the Group;reviewed and appraised the audit reports submitted by the internal auditors. The audit reports covered all businesssectors of the Group incorporating audit findings and recommendations on system and control weaknesses notedduring the course of the audit;reviewed the credit policy of the Group; andreviewed and verified that the allocation of share options was in accordance with the criteria as set out in the UACBerhad Employees' Share Option Scheme.The Committee also appraised the adequacy of actions and remedial measures taken by the management in resolvingthe audit issues reported.35