KUMPULAN FIMA BERHAD ANNUAL REPORT 2020

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Statement on Risk Management
and Internal Control
Board of Directors Audit and Risk Committee
Enterprise Risk Management Reporting Structure
Risk Steering Committee
Risk Management Unit
Risk Management Function
(Risk owners/Control owners)
Group Internal Audit
2nd Line of Defence
3
rd
Line of Defence
1st Line of Defence
The RSC, as a sub-committee to the ARC, is entrusted with the responsibility of implementing and maintaining the ERM
framework to achieve the following objectives:
(a) Communicate the vision, role, direction and priorities to all employees and key stakeholders;
(b) Identify, assess, treat, report and monitor significant risks in an effective manner;
(c) Enable systematic risk review and reporting on key risks, existing control measures and any proposed action plans;
(d) Heightening risk awareness culture in the business processes through risk owners’ accountability and sign-off for
action plans and continuous monitoring; and
(e) Compilation of the business units’ risk profiles in relation to the Group risk parameters, the top risks from each
business segment.
Below are the steps of compilation of risk information conducted within the Group:
RMU prepares
the Risk Register
indicating the
current condition
of each risk and
plan
Prepare Compile Review Update Monitor
1
Risk
Management
Coordinator
compiles all Risk
Registers
2
RSC review
Risk Registers
together with
RMU annually
3
Risk Register is
updated based
on the latest risk
information
4
RMU is to
monitor and
report risk
information
5
The Board retains the overall risk management responsibility in accordance with Best Practice of the Malaysian Institute of
Corporate Governance, which requires the Board to identify principal risks and ensure the implementation of appropriate
systems to manage these risks.
Annual Report 2020
kumpulan Fima Berhad
(197201000167)(11817-V)
109