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Corporate
Governance
094
Gamuda Berhad (29579-T)
Annual Report 2013
• A comprehensive information system comprising
budgets, key business indicators and performance
results on operations are reported to Management and
the Directors. The regular and comprehensive flow of
information allows the Management and the Directors
to review business unit’s performance against budgets
and performance indicators on monthly basis.
• An Integrated Management System, incorporating ISO
9001:2008, ISO 14001:2004, OHSAS 18001:2007
and MS 1722: Part 1: 2011 requirements has
been established and implemented to continuously
provide high quality, cost effective, reliable, safe and
environmental friendly products and services.
• A Performance Management System whereby business
objectives are clearly defined and targets are set for
each individual employee. Employees’ performances
are monitored, appraised and rewarded according to
the achievement of targets set.
• Training and development programmes are identified
and scheduled for employees to acquire the necessary
knowledge and competency to meet their performance
and job expectations.
• An adequately resourced Internal Audit Department
which reports directly to the Audit Committee, conducts
regular reviews on integrity and effectiveness of the
Group’s system of internal controls.
• Executive Directors and Senior Management conduct
regular site visits and communicate with employees
of different levels to have first-hand knowledge of
significant operational matters and risks.
• Board representation in its associated companies.
Information on the financial performance of these
associated companies is provided regularly to the
Management and Board of the Company via Group
management reporting procedures and presentations
at Board meetings respectively.
• In respect of joint ventures entered into by the Group,
the Management of the joint ventures, which consist of
representations from the Group and other joint venture
partners are responsible to oversee the administration,
operation, performance and Executive Management of
the joint venture. Financial and operational information
of these joint ventures are provided regularly to the
Management of the Company.
The Group Managing Director and the Finance Director
have provided the Board with assurance that the Group
risk management and internal control system is operating
adequately and effectively. All internal control weaknesses
identified during the period under review have been
or are being addressed. There were no major internal
control weaknesses that require disclosure in the Annual
Report. The Management continues to take measures to
strengthen the risk management and control environment.
Review of the Statement by the External
Auditors
The External Auditors have reviewed the Statement on
Risk Management and Internal Control and reported to
the Board that nothing has come to their attention that
causes them to believe the Statement is inconsistent with
their understanding of the process adopted by the Board in
reviewing the adequacy and integrity of the system of risk
management and internal control.