Company No: 198201012898 (92647-H)

 

 

INDEPENDENT AUDITORS’ LIMITED ASSURANCE REPORT TO THE BOARD OF DIRECTORS OF YTL CORPORATION BERHAD ON THE STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL

 

 

We have been engaged to perform a limited assurance engagement on the accompanying Statement on Risk Management and Internal Control (“SORMIC”) intended to be included in the annual report for the financial year ended 30 June 2020 as set out in the attachment which has been stamped by us for identification purposes.

 

Responsibilities of Board of Directors and Management

 

Management or a delegated committee of the Board of Directors or a specified party appointed by the Board of Directors are responsible for the preparation of the Statement on Risk Management and Internal Control in accordance with the “Statement on Risk Management and Internal Control: Guidelines for Directors of Listed Issues” as issued under the Bursa Malaysia listing requirements.

 

Our Responsibility

 

Our responsibility is to express a limited assurance conclusion on the Statement on Risk Management and Internal Control based on the procedures we have performed and the evidence we have obtained as to whether any matters have come to our attention that cause us to believe that the Statement on Risk Management and Internal Control has not been prepared, in all material respects, in accordance with the disclosures required by paragraphs 41 and 42 of the Statement on Risk Management and Internal Control: Guidelines for Directors of Listed Issues to be set out, nor is factually inaccurate.

 

We conducted our limited assurance engagement in accordance with Malaysian Approved Standard on Assurance Engagements, ISAE 3000, Assurance Engagements Other than Audits or Reviews of Historical Financial Information and AAPG 3, Guidance for Auditors on Engagements to Report on the Statement on Risk Management and Internal Control Included in the Annual Report.

 

Summary of Work Performed

 

Our engagement has been conducted to assess whether the Statement on Risk Management and Internal Control appropriately reflects the disclosures required by paragraphs 41 and 42 of the Statement on Risk Management and Internal Control: Guidelines for Directors of Listed Issues.

 

In a limited assurance engagement, the scope of evidence-gathering procedures is less comprehensive than in a reasonable assurance engagement, and therefore less assurance is obtained than in a reasonable assurance engagement.

 

Our work will be restricted to:

 

(a) Obtain an understanding, through enquiring of the Board of Directors, of the process the Board (or where applicable, its committees) has applied in reviewing the risk management and internal control system and compare that understanding to the SORMIC intended to be included in the annual report.

(b) Discuss with the Board of Directors, the actions that the Board has already taken, or being taken, with respect to identified significant failings or weaknesses.

 

Company No: 198201012898 (92647-H)

 

 

INDEPENDENT AUDITORS’ LIMITED ASSURANCE REPORT TO THE BOARD OF DIRECTORS OF YTL CORPORATION BERHAD ON THE STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL– (Continued)

 

 

 (c) Review documentation prepared for the Board of Directors to support the SORMIC and assess whether or not it provides sound support for the SORMIC.

 (d) Relate the SORMIC to the auditor’s knowledge of the Company obtained during the audit of financial statements.

 

We are not required to consider whether the Statement on Risk Management and Internal Control covers all risks and controls, or to form an opinion on the adequacy and effectiveness of the Company’s risk management and internal control system including the assessment and opinion by the Board of Directors and management thereon. We are also not required to consider whether the processes described to deal with material internal control aspects of any significant problems disclosed in the annual report will, in fact, remedy the problems.

 

Conclusion

 

Based on the procedures performed, nothing has come to our attention that causes us to believe that the Statement on Risk Management and Internal Control intended to be included in the annual report is not prepared, in all material respects, in accordance with the disclosures required by paragraphs 41 and 42 of the Statement on Risk Management and Internal Control: Guidelines for Directors of Listed Issues to be set out, nor is factually inaccurate.

 

Restriction on distribution or use

 

This report is made solely to the Board of Directors in accordance with the listing requirements of Bursa Malaysia and for no other purposes. We do not assume responsibility to any other person for the content of this report. It should not be copied or disclosed to any third party or otherwise quoted or referred to, in whole or in part, without our prior written consent.

 

 

 

 

 

HLB LER LUM PLT

 

201906002362 & AF 0276

 

Chartered Accountants

 

 

 

 

 

WONG CHEE HONG

 

03160/09/2022 J

Date: 30 September 2020

Chartered Accountant

Kuala Lumpur