Penang State Hindu Endowments Board Accounting Audit Mechanism

Penang State Hindu Endowments Board Accounting & Audit Mechanism 1. Review of Financial Statements i) Balance Sheet ii) Profit and Loss iii) Cash flow statement iv) Fixed Deposit 2. Review of Internal Audit and Risk Management Reports i) Audit Reports ii) Review of Standard Operating Procedures

Penang State Hindu Endowments Board Preparation of Financial Statements For year ending 31 st December 2019 15/02/20 Management accounts to Accountant PSHEB 17/2 – 19/2 Review of management accounts and findings UHY TAC 24/2 – 28/2 Submission of final accounts for amalgamation PSHEB 02/3 – 06/3 Amalgamation and drafting UHY TAC 09/3 – 13/3 1 st draft to PSHEB for discussion and comment PSHEB 16/3 – 20/3 Finalization of accounts UHY TAC 21/3 – 31/3 Board approval PSHEB

Penang State Hindu Endowments Board Meetings Meeting Date Agenda 01/2020 02/2020 03/2020 04/2020 05/2020 06/2020 24 th January 2020 March 2020 May 2020 July 2020 September 2020 November 2020 Jan/Feb Mar/Apr May/Jun Jul/Aug Sep/Oct 01/2021 02/2021 January 2021 March 2020 Nov/Dec FS & Audit Jan/Feb FS & Audit, FY 2020 FS & Audit, FY 2019 FS & Audit

Penang State Hindu Endowments Board Cheque Signatories RM 5, 000 and below Group A Mr. Surentharan Independent Commissioner (1) Group B Mr. Surentharan Independent Commissioner (2) Condition : To be signed by either signatories in group A or B

Penang State Hindu Endowments Board Cheque Signatories More than RM 5, 000 Group A YB. Prof. Dr. P. Ramasamy Mr. Surentharan Independent Commissioner (3) Group B YB. Prof. Dr. P. Ramasamy Mr. Surentharan Independent Commissioner (4) Condition : To be signed by either signatories in group A or B