Integrated Report 2020

INTEGRATED REPORT 2020 CIM FINANCIAL SERVICES LTD Directors’ Report (a) Financial Statements The directors of CIM Financial Services Ltd (the ‘Company’) are responsible for the integrity of the audited financial statements of the Group and the Company, and the objectivity of the other information presented in these statements. The Board confirms that, in preparing the audited financial statements, it has: (i) selected suitable accounting policies and applied them consistently; (ii) made judgements and estimates that are reasonable and prudent; (iii) stated whether applicable accounting standards have been followed, subject to any material departures explained in the financial statements; (iv) kept proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company; (v) safeguarded the assets of the Company by maintaining internal accounting and administrative control systems and procedures; and (vi) taken reasonable steps for the prevention and detection of fraud and other irregularities. (b) Going Concern Statement On the basis of current projections, we are confident that the Group and the Company have adequate resources to continue operating for the foreseeable future and consider that it is appropriate that the going concern basis in preparing the financial statements be adopted. (c) Internal Control and Risk Management The Board is responsible for the systemof Internal Control and RiskManagement for the Company and its subsidiaries. The Group is committed to continuously maintaining a sound system of risk management and adequate control procedures with a view to safeguarding the assets of the Group. The Board believes that the Group’s systems of internal control and risk management provide reasonable assurance that control and risk issues are identified, reported on and dealt with appropriately. (d) Donations The Company did not make any political contributions in this financial year. For details on the charitable donations made by the Company, please refer to page 56. (e) Governance The Board strives to apply the principles of good governance within the Company and its subsidiaries. (f) Audited Financial Statements The audited financial statements of the Group and the Company which appear on pages 62 to 155 were approved by the Board on 28 December 2020 and are signed on their behalf by: Aisha Timol Mark van Beuningen Independent Director and Chairperson Executive Director and Group Chief Executive Officer 57