189 Annual Report 2020 >> Our Governance A. Control Environment B. Risk Assessment coso Internal Control - Integrated Framework E. Monitoring D. Information Communication C. Control Activities A. Control Environment Board Committees are governed by clearly defined Terms of References (TORs). Malaysia Airports’ Group Code of Ethics is the standard policy for all MAHB employees in their professional conduct with fellow employees, and the Group’s representatives including agents, consultants, contractors and suppliers. Vendors of Malaysia Airports are required to abide by provisions under the Malaysia Airports Vendor Code of Ethics (Vendor Code) effective from 19 December 2016. C. Control Activities The Group’s Limit of Authority (LOA) is reviewed and updated periodically to ensure that financial limits and guidelines are current to facilitate effective and efficient decision-making. Latest version came into effect on 15 June 2020. Policies and procedures such as those that address accounting policies, value management, procurement limits, and quality management system are approved by the Board and are applicable across the Group. The Whistleblowing Programme, whereby the Corporate Integrity Unit acts as the Secretariat, provides Malaysia Airports’ employees and stakeholders with a mechanism to report malpractices and irregularities responsibly within the Group, to maintain a state of confidence of integrity within Malaysia Airports. B. Risk Assessment Subsidiaries, divisions and units conduct risk assessments prior to engaging in initiatives as well as for their unit on a quarterly basis. This is signed-off digitally using the Malaysia Airports Risk Scorecard system.
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