Internal Audit
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Corporate Governance
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Execution of Internal Audit Operations
The Internal Audit Office operates independently and reports directly to the Board of Directors. The Company has two qualified internal auditors who participate in continuing professional training annually. The roster of internal auditors is filed on the Market Observation Post System (MOPS) by the end of January each year.
Based on the annual audit plan, the Internal Audit Office conducts audits to evaluate the effectiveness of internal controls. Audit results and follow-up reports are regularly submitted to the Board of Directors, and the Chief Audit Executive attends Audit Committee and Board meetings to report audit matters.
Each year, all departments and subsidiaries conduct self-assessments of internal controls. The Internal Audit Office reviews the results and submits them to the Board of Directors and General Manager as a basis for evaluating the effectiveness of the internal control system and issuing the Internal Control Statement.
Based on the annual audit plan, the Internal Audit Office conducts audits to evaluate the effectiveness of internal controls. Audit results and follow-up reports are regularly submitted to the Board of Directors, and the Chief Audit Executive attends Audit Committee and Board meetings to report audit matters.
Each year, all departments and subsidiaries conduct self-assessments of internal controls. The Internal Audit Office reviews the results and submits them to the Board of Directors and General Manager as a basis for evaluating the effectiveness of the internal control system and issuing the Internal Control Statement.
Appointment, Evaluation and Compensation of Internal Auditors
The appointment and dismissal of the Chief Audit Executive are subject to the approval of the Audit Committee and the Board of Directors. Performance evaluation and compensation are reviewed by the Compensation Committee and approved by the Board. Personnel matters for internal auditors are handled in accordance with the Company's internal control procedures. The approval process is initiated by the head of internal audit and submitted for approval by the Chairman.
Communication Between Independent Directors and the Chief Audit Executive
The Chief Audit Executive provides audit and follow-up reports to Independent Directors for review by the end of the month following completion, and attends Audit Committee and Board meetings to facilitate communication. Independent Directors meet with the Chief Audit Executive at least once annually to discuss internal control and audit matters.
Summary of Communication Between Independent Directors and Internal Audit Head：
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