Annual Report 2025

137 2025 Annual Report Transport International Holdings Limited Internal Control Framework The Group’s Internal Control Framework is monitored, managed and reviewed by the following bodies: The Board Holds the ultimate responsibility for the Group’s risk management and internal control systems; Reviews the effectiveness of the Group’s risk management and internal control systems in achieving the Group’s objectives; and Provides direction on the risk management and internal control culture of the Group. The Audit and Risk Management Committee Assists the Board in monitoring the performance of the Group’s risk management and internal control systems; Reviews the Group’s internal control and risk management reports prior to endorsement by the Board; Reviews the effectiveness of the Company’s external and internal audit functions; and Ensures the adequacy of resources, staff qualifications and experience, training programmes and budget of the Company’s accounting, internal audit, financial reporting function, as well as those relating to the Company’s ESG performance and reporting. Management Designs, implements and maintains an effective risk management and internal control system, including the Group’s Quality Management System; and Ensures a proper reporting channel so that emerging risks are reported to the Audit and Risk Management Committee in a timely manner. The Internal Audit Department Supports the Audit and Risk Management Committee in reviewing the effectiveness of the Group’s risk management and internal control systems; Works with business units to ensure that sound internal controls and compliance functions are in place; and Conducts independent reviews and other special investigations requested by the Board, the Audit and Risk Management Committee, and Management. The Group’s internal control and risk management framework consists of the following components: