58 CSE Global Limited REPORT ON CORPORATE GOVERNANCE In line with Rule 1207(6) of the Listing Rules, the ARC has undertaken a review of all non-audit services that are provided by the external auditors and is satisfied that the provision of such services has not affected the independence of the external auditors. The fees that are charged to the Group in respect of the audit and non-audit work by the external auditors are set out as follows: 2024 $’000 2023 $’000 Audit fees : - Auditors of the Company 527 508 - Statutory audit 35 45 - Other assurance services - Other auditors of subsidiaries 471 417 Total audit fees 1,033 970 Non-audit fees : (a) Tax compliance services - Auditor of the Company 100 50 - Member firm of Ernst & Young Global Limited – 138 - Other auditors of subsidiaries 84 230 (b) Tax residency services - Member firm of Ernst & Young Global Limited – 65 Total non-audit fees 184 483 Total audit and non-audit fees 1,217 1,453 The ARC has a policy that, for services rendered by the external auditors of the Company, non-audit fees exceeding 50% of the audit fees would not be approved by the ARC. Whistle-Blowing Policy The Group has in place a Whistle-Blowing Policy. This Policy provides an independent feedback channel through which matters of concern about possible improprieties in matters of financial reporting or other matters may be raised by employees and external parties in confidence and in good faith, without fear of reprisal. Details of this policy have been disseminated and made available to all employees of the Company. All matters which are raised are then independently investigated and appropriate actions taken. The ARC ensures that independent investigations and any appropriate follow-up actions are carried out. There were no whistle-blowing reports received by the ARC in the financial year under review. Bribery and Corruption Prevention Policy The Company adopts a strong stance against bribery and corruption. In addition to clear guidelines and procedures for the giving and receipt of corporate gifts and concessionary offers, all employees of the Group are required to make a declaration on an annual basis where they pledge to uphold the Company’s core values and not to engage in any corrupt or unethical practices. This serves as a reminder to all employees to maintain the highest standards of integrity in their work and business dealings. The Company’s stance against bribery and corruption is also reiterated by Management during its regular staff communications sessions. Employee Code of Conduct The Company has a strict Code of Conduct that applies to all employees, who are required to acknowledge and comply with the code. The Code of Conduct sets out principles to guide employees in carrying out their duties and responsibilities to the highest standards of personal and corporate integrity when dealing with the Company, customers and suppliers. It covers areas such as conduct in the workplace and business conduct, including anti-corruption and conflict of interests. These policies are reviewed regularly and updated to reflect changes where required.
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