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The Company's Internal Audit is an independent unit that reports directly to the Board of Directors. The charter of Internal Audit is to review the internal controls in the company's processes and to report on those controls with respect to the adequacy, effectiveness, and efficiency of their design as well as their actual functioning on a routine tasks basis. All parts of the company and its subsidiaries are open for review by Internal Audit.
The audit work is carried out mainly according to the audit plan approved by the Board of Directors. The audit plan is devised against the identified risks, and a special audit or review will be performed as needed. By performing the above-mentioned general-purpose audit and special audit, the Internal Audit Office provides the management with timely information as to how the internal control is functioning and what the existing or potential control deficiencies are. In addition, the Internal Audit Office also reviews each unit's self-inspection by checking whether the self-inspection is actually implemented, and by reviewing supporting documents to ensure the implementation quality. Thereafter, the Internal Audit Office further summarizes the self-inspection results and reports them to the Board of Directors.
The Company's Internal Audit Office is staffed with three dedicated auditors, including a chief audit officer and two subordinate auditors.