Annual Report 2019

FAR EAST CONSORTIUM INTERNATIONAL LIMITED 142 CORPORATE GOVERNANCE REPORT The Group has completed an annual review on the effectiveness of the risk management and internal control systems during the year ended 31 March 2019 which include the identification and follow up on the significant risks, as well as the related controls designed to mitigate the risks and associated action plans. The Board, through the confirmation from management, considered the risk management and internal control systems effective and adequate with no significant areas of concern that may affect the Group being identified. The Group has also commenced the review for next fiscal year and will continue to build on the established risk management process further enhance its approach to manage risks. Handling and dissemination of inside information The Company has developed its disclosure policy to provide the general guideline on handling confidential information, monitoring of information disclosure and response to queries to its directors, officers, senior management and the relevant employees. The Company has executed supervision programs to confirm the strict prohibition from unauthorized access to and use of inside information. Internal audit function The Board is responsible for maintaining an adequate internal control system to safeguard the interests of Shareholders and the Group’s assets. With the help of an outsourced internal auditor, the senior management reviews and evaluates the control process, monitors any risk factors on a regular basis and reports to the Audit Committee on any findings and measures to address the variances and identified risks. E. COMPANY SECRETARY During the year ended 31 March 2019, Mr. Ka Pong CHAN, the Company Secretary, has taken no less than 15 hours of relevant professional training.