systems, and process weaknesses. iv. BAC held two (2) meetings with the External Auditor without the presence of Management and Executive Directors to enable open discussion with the BAC and to reinforce independence of the external audit function of the Company. 3. FINANCIAL REPORTING BAC reviewed and endorsed the following financial matters before recommending to Board for approval: i. Quarterly unaudited financial results of the Group and the draft announcements with considerations on key developments during the period, significant accounting matters, and other review matters. ii. Audited financial statement of the Group and of the Company for the financial year ended 31 December 2022 and agreed that the financial statements were prepared in accordance with the relevant standards and regulatory requirements as to give a true and fair viewof the Group’s financial performance. 4. RELATED PARTY TRANSACTIONS In February 2023, BAC reviewed and recommended to the Board to approve the related party/recurrent related party transactions entered into by TNB Group for the year ended 31 December 2022. 5. ANNUAL REPORTING BAC recommended for Board’s approval the reports to be incorporated in the Integrated Annual Report 2022 namely (i) BAC Report, (ii) Statement of Internal Audit Function, (iii) Statement on Risk Management and Internal Control, and (iv) Corporate Governance Overview Statement and Corporate Governance Report. 6. SUSTAINABILITY AND OTHER MATTERS i. BAC approved the methodology and scope of work for assurance of the FY2023 Sustainability Statement. The assurance exercise is part of Bursa’s Enhanced Sustainability Disclosure Requirement which requires issuance of Statement of Assurance on whether the Sustainability Statement has been subjected to an assurance process. ii. T ook note on the updates to MMLR and new regulations/ requirements comprising amongst others disclosure on conflict of interest or potential conflict of interest situation reviewed by BAC, Sustainability Reporting Standards, Tax Corporate