Corporate Governance

The internal audit of our company operates as an independent unit directly reporting to the Board of Directors. It comprises dedicated audit personnel. The appointment and dismissal of the head of internal audit is subject to approval by the Audit Committee and subsequently presented for resolution to the Board of Directors.

In accordance with internal audit regulations, audit personnel conduct reviews of the internal controls of each company unit and subsidiaries' operational procedures. They also review the results of self-evaluations, presenting reports periodically to the Audit Committee and the Board of Directors on the adequacy of the design of these controls, their actual day-to-day operations, and the results of effectiveness and efficiency.

The combined execution of routine and project-based audits aims to assist the Board of Directors and management in examining and reviewing the design and implementation of internal control systems, ensuring they are both effective and appropriate, and providing timely recommendations for improvement. The goal is to make sure the continuous and effective implementation of internal control systems and to provide a basis for reviewing and amending internal control systems.

Our company's internal audit organization submits audit reports to the independent directors on a monthly basis. Furthermore, the audit manager attends the Audit Committee and reports on the execution of audit operations to the independent directors. If further clarification or other assignments are required, the audit manager would directly contact the independent directors to ensure good communication.