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ANNUAL REPORT 2021 83
AUDIT & ASSURANCE DEPARTMENT (AAD)
AAD independently reviews the adequacy and integrity of the systems of internal control in managing key risk and
reports accordingly to the Board Audit Committee (BAC) on every two months basis or more often as and when required.
Where weaknesses have been identified as a result of reviews, improvement measures are recommended to strengthen controls
and follow-up audits are conducted by AAD to assess the status of implementation thereof by Management.
In addition, the BAC also meets the Chief Internal Auditor without the presence of Senior Management staff at least once a year.
RELATIONSHIP WITH EXTERNAL AUDITOR
The BAC has established an appropriate and transparent relationship with the external auditor. The BAC meets at least once
a year with the external auditor without the presence of the Management of EXIM Bank.
