Regular review processes ensure the ongoing relevance and effectiveness of these policies and procedures. Among others, the Group policies and procedures in place are: TNB Code of Business Ethics TNB ICT Security Policy and ICT Codes of Practice TNB Ethics & Integrity Policy TNB Safety & Health Policy TNB Risk Management Policy TNB Confidentiality Policy TNB Asset Management Policy TNB Limits of Authority TNB Procurement and Supply Chain Policy and Procedures TNB Environmental Policy TNB Security Policy TNB Communication Policy TNBInvestmentProcessControl:UpdatedInvestmentProcess andInvestmentRiskMethodology TNB Personal Data Protection Policy TNB Group Financial Policies and Procedures TNB Disciplinary Procedures TNB Group Human Resource circulars and guidelines CREATING VALUE THROUGH STRONG GOVERNANCE Sec 4 189 Financial and Operational Control Framework The TNB Group Financial Policies and Procedures (GFPP) stand as an imperative pointof reference guiding the Group’s financial and operational conduct. The Group has acted in accordance with generally accepted accounting principles and the Malaysian Financial Reporting Standards. Regular evaluations comparing actual performance against established budgets, targets, and historical benchmarks for key functions and strategic initiatives are carried out. Necessary mitigating measures and follow-up actions are promptly implemented. The Board Audit Committee (BAC) reviews the Group’s quarterly financial performance together with Management and these are subsequently reported to the Board. The quarterly reviews enable the BAC to deliberate and assess the Group’s financial results and operational performance. TNB continues to proactively engage with relevant stakeholders for smooth implementation of the Incentive-Based Regulations (IBR) framework. The performance of the regulated business is meticulously monitored through the IBR performance indicators and dashboards. These are reported regularly to relevant decision-making committees to ensure effective implementation