Internal Audit

The Company’s internal audit function is an independent unit directly under the Board of Directors. In addition to reporting at regular Board meetings, it reports to the Chairperson on a monthly basis or whenever necessary.
The Company’s internal audit unit has one full-time internal auditor.
The internal audit rules expressly provide that internal audit shall review the internal controls over the Company’s operating procedures and report on whether the design and day-to-day operation of such controls are appropriate, as well as their effectiveness and efficiency. The scope covers all operations of the Company and its subsidiaries.
Internal audit activities are primarily conducted in accordance with an audit plan approved by the Board of Directors and formulated based on identified risks. Ad hoc audits or reviews are also conducted as necessary. The implementation of general and ad hoc internal audits provides management with an understanding of the operation of internal controls and serves as an additional means for management to identify existing or potential deficiencies in a timely manner.
Internal Audit reviews the self-inspections conducted by each unit, including checking whether the relevant activities have been performed and reviewing the supporting documents to ensure the quality of execution. The results of the self-inspections are summarized and reported to the Board of Directors.
The appointment, dismissal, performance evaluation, and remuneration of internal audit personnel shall be submitted to the Board of Directors or reported by the chief auditor to the Chairperson for approval.