INTERNAL CONTROL FRAMEWORK Our comprehensive internal control framework offers reasonable assurance in achieving our strategic goals. This framework is applicable to the Group and all its subsidiaries. It also extends to joint ventures and associated companies, ensuring active involvement through Board representation or appointed nominees to protect our interests and investments. The key components of our internal control framework include: POLICIES & PROCEDURES Well-documented policies and procedures are essential to the Group’s internal control systems, safeguarding shareholders’ investments and protecting the Group’s assets from significant losses. Beyond mitigating risks, these policies and procedures ensure the provision of complete and accurate information. This documentation includes policy documents, Standard Operating Procedures (SOPs), circulars, manuals, and handbooks. To meet evolving business and operational needs, these materials are continuously revised and updated, highlighting the Group’s commitment to maintaining the highest standards of governance and operational excellence. Policies & Procedures Ethics & Integrity Competency Information & Monitoring Authority & Responsibility ETHICS & INTEGRITY Further information on CoEC, CoBP and CoBCE can be found under Corporate Governance Overview Statement on page 211. Further information on the above policies is available on FGV’s corporate website at www.fgvholdings.com. The Group is dedicated to sustainable business practices in our management and operations. Key elements of the Environmental, Social, and Governance (ESG) agenda are integrated into the Group’s grievance procedures, offering an effective mechanism for rights holders to raise grievances and access remedies. The Board demonstrates its commitment to ethical governance by adhering to the Directors’ Code of Ethics and Conduct (CoEC) and the Directors’ Code of Business Practice (CoBP). Each director reinforces this commitment through signed declarations, affirming their dedication to integrity. This commitment fosters a culture of ethical excellence, positioning these codes as essential guiding principles that actively promote trust and integrity within the organisation. Employees, counterparties, and business partners are likewise anticipated to uphold comparable ethical standards of conduct. This expectation is vital for addressing potential conflicts of interest and preventing abuses of power, corruption, insider trading, and money laundering. The Board establishes, reviews, and together with Management, implements appropriate policies and procedures on whistleblowing at the Group level. Whistleblowing channels are in place to enable all stakeholders to voice concerns about any observed or experienced wrongdoing within the Group, without fear of retaliation. Demonstrating a firm commitment to a zero-tolerance policy against bribery and corruption, the Group has implemented an ISO-certified Anti-Bribery Management System (ABMS). This system upholds rigorous standards of ethical business conduct and integrity, ensuring compliance with Section 17A of the Malaysian AntiCorruption Commission Act (MACC Act) to protect against bribery and corruption risks. Group Grievance Management Policy Directors’ Code of Business Practice, and Directors’ Code of Ethics and Conduct Code of Business Conduct and Ethics for Employees Whistleblowing Policy Anti-Bribery Management System Statement on Risk Management and Internal Control 230 FGV Holdings Berhad | Annual Integrated Report 2024
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