Annual Report 2020

Directors are required by Companies Act 2016 to prepare financial statements for each financial year which give a true and fair view of the financial position of the Group and of the Company at the end of the financial year and of the financial performance of the Group and of the Company for the financial year then ended. In preparing those financial statements, the Directors have: • adopted and consistently applied suitable accounting policies; • made judgements and estimates that are prudent and reasonable; • ensured applicable financial reporting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and • prepared it on the going concern basis unless it is inappropriate to presume that the Group and the Company will continue in business. The Directors are responsible in ensuring proper accounting records are kept, which disclose with reasonable accuracy at any time the financial position of the Group and of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2016. The Directors are also responsible to take such steps to safeguard the assets of the Group and of the Company and hence, the prevention and detection of fraud and other irregularities. Annual Report | 2020 QL Resources Berhad 92 Statement of Directors' Responsibility