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ii) Internal Audit
• Oversees the functions of the Internal Audit
Department and to ensure compliance with
BNM/RH/GL 013-4 (Guidelines on Internal
Audit Function of Licensed Institutions,
UPW/GP1 (Standard Guidelines on Anti-
Money Laundering and Counter Financing
of Terrorism (AML/CFT), BNM/RH/GL-012-3
(Shariah Governance Framework for Islamic
Financial Institutions) and the requirement
of the relevant laws and regulations of
other supervisory authority.
• Review internal controls, including the
scope of the internal audit programme, the
internal audit findings, and recommend
action to be taken by management. The
reports of internal auditors and BAC should
not be subject to the clearance of the Chief
Executive Officer or Executive Directors.
• Approve the Audit Charter before being
endorsed by the Board, so that the
internal audit function may be effectively
discharged.
• Approve the audit plan for the internal
audit and should be flexible to respond to
changing priorities and needs.
• Ensure that adequate and appropriate
resources are made available to the
internal
audit
function
and
the
compensation scheme of internal auditors
are consistent with the objectives and
demands of internal audit function.
• Ensure that the continuing professional
development for internal audit staff and to
ensure that they have sufficient up to date
knowledge of auditing and the activities
of the Bank.
iii) Financial Reporting
• Ensure that the accounts are prepared in a
timely and accurate manner with frequent
reviews of the adequacy of provisions
against contingencies, and bad and
doubtful debts. Review the balance sheet
and profit and loss account for submission
to the full Board of Directors and ensure
the prompt publication of annual accounts.
iv) Related Party Transaction
• Review any related party transactions that
may arise within the EXIM group.
Board Risk Committee
1. Objective
Primarily responsible for effective functioning of
the Bank’s risk management function.
2. Composition
Based on the Terms of Reference of the BRC, the
meeting is to be held at least once every quarter.
During the financial year ended 31 December 2013,
the Board Risk Committee met 11 times. Details of
members of the Committee and attendance of each
member for year 2013 are as follows:-
* Reflects the number of meetings attended during the time
the Director held office
NO. NAME OF DIRECTOR
NO. OF
MEETING
ATTENDED *
1
Dato’ Agil Natt
(Chairman)
11/11
2
Zakaria bin Ismail
11/11
3
Dato’ Rosli bin Mohamed Nor
11/11
4
Nik Najib bin Husain
10/11
5
Ismail bin Mahbob
9/11
EXIM Bank Annual Report 2013
055