NON-AUDIT SERVICE POLICY
1. INTRODUCTION
The Audit Committee’s objective is to ensure that the provision of non-audit services across Seremban Engineering Berhad (“SEB”) does not impair the external auditor’s independence or objectivity.
The policy provides guideline to the Audit Committee (“AC”) to access and monitor the provision of non-audit services by the auditors.
2. Non-Audit Service Engagement
The Auditor is permitted to provide non-audit services that are consistent with the role of auditors and not perceived to be materially in conflict with the role as external auditors:
| a) | The following services are permitted being closely associated with the Auditors role:
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| b) | Other than above non-audit services, review and approval would be required by the Audit Committee. |
3. Approval of Non-Audit Service Fee
| a) | Management shall obtain confirmation from the external auditors that the independence of the external auditors will not be impaired by the provision of the non-audit services |
| b) | The Auditor is permitted to provide non-audit services that are capped by value of 25% of the preceding annual audit fee. Within the pre-approval fee limits, the engagement of the Auditors shall be proposed and reviewed by the Head of Finance before approved by the Chief Executive Officer. |
| c) | All engagement of the external auditors to provide non-audit service above 25% of the preceding annual audit fee are subject to the prior approval of the Audit Committee before commencement of non-audit service engagement. |
| d) | The Management shall report to AC on a timely manner on any significant non-audit services and its related fees as rendered by the external auditors. |
4. Review and Amendment
The AC shall review the Policy periodically to ensure the Policy remains relevant and appropriate.
Approved by the Board on 24 October 2024
