cannot function in a management role, audit their own work, or serve in an advocacy role for TNB Group. Compliance with the By-Laws of the Malaysian Institute of Accountants (MIA) concerning non-audit services is mandatory, with the application of safeguards if necessary. TNB External Auditors Policy stipulates a three (3)-year cooling-off period for a former partner of TNB’s External Auditors before being appointed as a BAC member in accordance with Practice 9.2 of the MCCG. Additionally, in alignment with Guidance 9.3 of the MCCG, the annual assessment of External Auditors incorporates information from the Annual Transparency Report of the audit firm. CREATING VALUE THROUGH STRONG GOVERNANCE Sec 4 181 The BAC, in evaluating the External Auditors’ independence, considers non-audit fees provided for services during the Financial Year. The conclusionis that these fees do not compromise or impair the independence or objectivity of the External Auditors. The amount of Audit and Non-Audit Fees paid or payable to PwC or its affiliates by the Company and TNB Group for the Financial Year ended 31 December 2023 is as follows: Group RM million Company RM million Statutory Audit 10.3 1.6 Audit Related Services 1.9 1.3 Total 12.2 2.9 Non-Audit Services: - Tax Related Services 0.2 0 - Other Non-Audit Services 0 0 Total 0.2 0 The Non-Audit Fees did not exceed 50% of the Audit Fees for the Financial Year under review, in line with TNB’s External Auditors Policy. All services were procured competitively in accordance with TNB’s Procurement & Supply Chain Policy and Procedures and External Auditors Policy. Non-audit services can be offered by the External Auditors of the Group if there are clear efficiencies and value added benefits to the Group. Based on the External Auditors Assessment Results for the Financial Year 2023, overall, the Company was completely satisfied/satisfied, with a score of 97%, showing an increase of 3.7% compared to the previous Financial Year, with the services provided by PwC in term of quality,