Development of the risk management structure.
In order to control risk that could significantly affect our business management, the Board of Directors and the Board Meeting are regularly reporting the status of work implementation, while the Internal Audit Office checks and monitors work processes. Various activities for ensuring legal compliance are continuously carried out through the Compliance Committee. We also have the internal reporting system in place for prevention and early detection of acts of noncompliance, and provides commendations and disciplinary actions in fairness to ensure sound business management.
Internal audit and auditors’audit.
The Internal Audit Office is set up to verify, assess and improve on the compliance of work processes in general with miscellaneous regulations as well as their validity and efficiency. Four members of the Internal Audit Office who handle internal audit duties also serve as the secretariat of the Board of Auditors to assist their administration, and support the execution of auditors’ duties. They carry out internal audit according to the auditing plan, and periodically report the audit status to the Board of Directors.
Two company auditors out of three are external auditors, whose occupations are tax accountant and public accountant. The company auditors attend key meetings and view important documents to enhance the function of monitoring work operations of directors and executive officers. Full-time auditor, in particular, work with the Internal Audit Office, etc. to carry out on-site audit at business sites to achieve effective monitoring, and monitor their status of compliance and internal control implementation. They also exchange opinions and information with other auditors to maintain mutual coordination, and enhance each other’s audit work for enhanced efficiency.