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SUSTAINABILITY JOURNEY HOW WE ARE GOVERNED FINANCIAL STATEMENTS ADDITIONAL INFORMATION 263

Competency REVIEW OF STATEMENT BY EXTERNAL AUDITORS

MSM views its employees as invaluable assets. The Group is The External Auditors have reviewed this Statement of Risk
committed to its employees and professional development Management and Internal Control as per Paragraph 15.23 of
at all levels. the Bursa Malaysia Securities Berhad Main Market Listing
Requirements. Their limited assurance review was performed
In achieving the next level of productivity, excellent in accordance with Audit and Assurance Practice Guideline
service, and performance, MSM has developed SWIIT (APPG) 3 issues issued by Malaysian Institute of Accountants.
Values (S for Sense of belonging, W for winning attitude, AAPG3 does not require external auditors to form an opinion
I for Integrity, I for Innovation and T for Teamwork) which on the adequacy and effectiveness of the risk management
bring meaningful purpose, practical strategies and goals and internal control systems of the Group.
together to make the organisation aspirations more credible
and achievable.
STATEMENT BY THE BOARD
In 2021, the Group has developed a qualifying and accredited
competency programme which focus in building a competent Based on the processes and measures undertaken by the
workforce in particular food safety, international standard Board and its Committees during the financial year and
certification and professional finance accreditation as part assurance provided by the Group Chief Executive Officer
of the learning roadmap. This is a key focus towards strong, and Chief Financial Officer, the Board is of the view that the
sustainable and balanced growth. The programmes are holistic risk management framework and internal control system as
in nature, aiming to enhance both professional and behavioural described in this Statement is sound and effective to safeguard
competencies by incorporating elements such as integrity, the shareholders’ investment and MSM Group’s assets.
governance as well as the Group’s core values.
This Statement is made in accordance to the resolution of the
Board dated 21 March 2022.
INTERNAL AUDIT FUNCTION

The Board acknowledges the importance of the internal audit
function. The Internal Audit Function is to provide internal audit
services to assist the Audit, Governance and Risk Committee
(AGRC) and Board in reviewing the effectiveness, adequacy
and integrity of the Group’s systems of internal control in
managing risks.

More details on Internal Audit activities covered in page 234