FGV Annual Report 2020

236 FGV HOLDINGS BERHAD Annual Integrated Report 2020 Internal Control Structures Our integrated internal control framework provides reasonable assurance to support the achievement of our strategic objectives. The framework is applicable to all subsidiaries within the Group except for the joint venture companies and associates not managed by us. Nevertheless, we ensure that our interests and investments are safeguarded by having Board representation(s) and/or nominated appointee(s) in the respective joint ventures and/or associates. The key elements of our internal control structures are as follows: Ethics & Integrity Policies & Procedures Statement On Risk Management And Internal Control FGV is committed to applying the highest standards of ethical conduct and integrity in conducting its business activities by putting in place adequate P&P as the fundamentals for internal control. It is also aligned with the Guidelines on Adequate Procedures for Corporate Liability, which are based on the five guiding principles of T-R-U-S-T. In tightening up the Group’s internal control, FGV has developed and enhanced the following policies: INFORMATION & MONITORING POLICIES & PROCEDURES ETHICS & INTEGRITY AUTHORITY & RESPONSIBILITY COMPETENCY KEY INTERNAL CONTROL • Anti-Bribery Policy Statement FGV is committed to encouraging transparent and good ethical conduct and upholding a good image of integrity, transparency and accountability in all aspects of its business. • Code of Business Conduct and Ethics (CoBCE) for Employees The CoBCE guides our employees in embracing the Group’s values and in complying with applicable laws and regulations through honest, transparent and ethical business practices. The CoBCE covers areas such as compliance, integrity, conduct in the workplace, business conduct, protection of the Group’s assets, confidentiality and conflict of interest. Our commitment towards internal control is clearly defined in our formal Policies & Procedures (P&P), in which proper formulation and review of the P&P is guided by the Governance of Policies & Procedures Policy. For new establishment and revision of policies, there will be a challenge process by a dedicated P&P working committee to ensure good governance practice is in place and that the scope of the P&P is adequate and consistently applied throughout the Group. These P&P are established with reference to International Standards such as, inter alia, ISO 37001, ISO 9001, ISO 14001, OSHAS 18001, and RSPO and also facilitate compliance with regulations, listing and governance requirements. The P&P are reviewed periodically to remain effective and relevant to support the Group’s business activities at all times as it continues to grow and transform locally and across borders. The P&P are stored in the Compliance Management System (internal hub) for easy access by employees and have been communicated across the Group via internal e-mail. In ensuring the P&P are being implemented and complied with, awareness programmes are periodically conducted through roadshows and forum events. We have recently reviewed and revised the following P&P: • Group Human Capital Policy • Group Procurement Policy • Group Sustainability Policy • Fertiliser Raw Material Policy • Whistleblowing Policy • Group Limits of Authority