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Management Discussion and Analysis Ensuring Sustainability Commitment to Lead Upholding Accountability Financial Statements 107

Independent audItors’ report
to the members of export-Import bank of malaysIa berhad
(Incorporated In malaysIa)

Key audit matters (cont’d)

Risk area and rationale our response
Insurance contracts/takaful certificates liabilities and
reinsurance contract assets (cont’d)

Refer to summary of material accounting policy (d) reviewed the assumptions used by the Appointed Actuary and
information in Note 2.4, significant accounting estimates rationale for conclusions made thereon;
and judgement in Note 3 and the disclosures of these
provisions in Note 10 to the financial statements. (e) assessed consistency of valuation methodologies applied;
(f) assessed whether changes made to the actuarial models are in
line with our understanding of business developments, and our
expectations derived from market experience;
(g) performed independent analysis and re-computation of the
provision for these liabilities on selected classes of business.
We focused on the largest and most uncertain reserves.
We compared our independent analysis to those performed by
management; and
We also considered whether the disclosures in relation to the
provision for these liabilities comply with the relevant disclosure
requirements.
Information other than the financial statements and auditors’ report thereon

The directors of the Bank are responsible for the other information. The other information comprises the directors’ report and the
information included in the annual report, but does not include the financial statements of the Group and of the Bank and our
auditors’ report thereon, which is expected to be made available to us after the date of this auditors’ report.

Our opinion on the financial statements of the Group and of the Bank does not cover the other information and we do not express
any form of assurance conclusion thereon.
In connection with our audit of the financial statements of the Group and of the Bank, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent with the financial statements of the
Group and of the Bank or our knowledge obtained in the audit or otherwise appears to be materially misstated.

If, based on the work we have performed on the other information that we obtained prior to the date of this auditors’ report,
we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to
report in this regard on the directors’ report.

When we read the annual report, if we conclude that there is a material misstatement therein, we are required to communicate the
matter to the directors of the Bank and take appropriate action.