FGV Annual Report 2020

213 Who We Are How We Operate How We Are Governed Additional Information Sustainability Matters Statement & Discussion By Our Leaders GROUP INTERNAL AUDIT The Group’s Internal Audit function is independent and reports functionally directly to the Audit Committee and administratively to the GCEO. The conduct of Group Internal Audit is based on a Group Internal Audit Charter, which is established consistent with the requirements of the Institute of Internal Auditors’ International Professional Practices Framework and approved by the Audit Committee as affirmed through a Quality Assurance Review conducted in 2020. There were 52 internal auditors as at 31 December 2020 covering the activities of the Group . The internal auditors have sufficient mix of knowledge, skills and competencies to execute the audit plan. Composition of the internal auditors and the corresponding professional status are as follows: The above includes 17 internal auditors (33%) who are members of the Institute of Internal Auditors Malaysia. The total cost incurred by Group Internal Audit for FY2020 is RM8.2 million (FY2019: RM10.3 million). This amount comprises mainly staff cost and benefits, travelling expenses and the operating cost of the Group Internal Audit management system. • Professional accounting (ICAEW, CPA, ACCA, CA) or Certified Internal Auditor (CIA) or post-graduate (MBA or Masters) • Certified IS Auditor (CISA) • Graduate (Bachelor’s Degree) • Graduate pursuing professional accounting (ICAEW, CPA, ACCA, CA) or CIA • Others (Diploma) 17 8 56 17 2 Professional status Total Percentage of total Auditors 100