Internal Audit Organization and Operations
Objective of Internal Auditing
The company has established an internal audit function with the purpose of assisting the organization in evaluating and improving the effectiveness of risk management, control, and governance processes through a systematic and disciplined approach, in order to achieve corporate objectives.
Internal Audit Structure
The company’s Internal Audit Department is composed of one Chief Auditor and several auditors. It reports directly to the Board of Directors and maintains an objective and independent status.
Operation of the Internal Audit Organization
The audit approach is primarily based on risk assessment, with audit plans formulated accordingly and submitted to the Board of Directors for approval and execution. In addition, special audits are conducted when necessary. The Internal Audit Department also follows up regularly on the correction of deficiencies and irregularities.
Audit reports and related documents are submitted to the supervisors for review on a monthly basis, and the status of internal audit activities is periodically reported to the Board of Directors.
Internal Auditor Appointment, Evaluation, and Compensation
The appointment, evaluation, and compensation of internal audit personnel are conducted in accordance with the company’s “Personnel Management Regulations” and “Employee Appointment Management Guidelines.” Performance evaluations are carried out twice a year. All matters related to appointment, evaluation, and compensation follow the internal approval process and are submitted to the Chairman for final approval. The relevant regulations are disclosed in the company’s internal policy section.
