Purpose of Internal Audit
The purpose of internal audit office is to assist the board of directors and management to inspect and review the deficiencies of the internal control system and measure the effectiveness and efficiency of operations, so as to ensure the continuous and effective implementation of the internal control system and serve as a basis for reviewing and correcting the internal control system. Improve the operation of the company.
Organization of internal audit office
The Internal Audit office is subordinate to the Board of Directors and reports to the Board of Directors/Audit Committee.
The appointment and dismissal of the internal audit supervisor shall be submitted to the board of directors for resolution after being approved by the audit committee.
The appointment, dismissal, evaluation and remuneration of internal auditors shall be reported to the chairman by the audit supervisor for approval in accordance with the company's "Code of Practice on Corporate Governance".
At present, there's two auditors in internal audit office, one supervisors and one internal auditor.
Operation of internal audit office
Apacer has established internal control system according to law, and the internal audit office has formulated internal audit implementation rules, which are used to review and evaluate the effectiveness and compliance of the current control system and procedures; the scope includes all operations of the company and its subsidiaries.
An annual audit plan is drawn up based on the risk assessment results each year and submitted to the board of directors for resolution after approval by the audit committee.
Internal auditors carry out internal audits in accordance with the annual audit plan, and the monthly or quarterly audit reports and follow-up reports are submitted to members of the Audit Committee for review before the end of the next month after the audit project is completed. In addition to reporting the audit business to the audit committee, the audit supervisor also attends the report of the board of directors.
Every year, each segment of the company regularly checks the effectiveness of the internal control system, and then the internal audit office reviews the self-inspection reports of each segmant and subsidiaries, and reports the internal control deficiencies and abnormalities found by the internal audit unit. The main basis for the board of directors and general manager to evaluate the effectiveness of the overall internal control system and issue a statement on the internal control system.