Internal Audit
Auditing office organization:
1.Auditing office establishment and staffing
The internal audit system of the company is directly subordinate to the Board of Directors. A suitable number of qualified internal audit personnel are assigned in accordance with the scope of operations, business and management requirements, and relevant laws and regulations. The qualifications of designated internal audit personnel referred to in this section are based on the regulations of the Financial Supervisory Commission.
2. Appointment and dismissal of internal audit executives
Appointment and dismissal of the auditing office director shall be ratified by the Board of Directors and shall be reported for future reference to the Financial Supervisory Commission via the Internet information system before second day ratification by the Board.
Audit Functions:
All services provided by the Office are planned and supervised by the Manager who is assisted by the Assistance Manager. The functions of the Office are as follows.
- Conduct all required examinations in accordance with internal audit implementation rules and compile and submit required examination records and reports for approval.
- Full implementation of current internal control systems of the company and its subsidiaries and relevant corporate regulations as well as monitoring of actual goal achievement.
- Assessment of the appropriateness of internal control systems and all relevant regulations as well as provision of suggestions for revisions.
- Supervision of the implementation of improvements for shortcomings in the field of financial/business audits requested by Security Supervisory Authorities.
- Formulation of internal audit implementation rules.
- Competence of internal audit personnel and provision of occupational education and training.
Implementation of Audits:
Annual audit plans are formulated based on risk assessment results. This includes items, which must be examined on a monthly basis. Annual audit plans shall be implemented in full and shall serve as the main reference for the inspection of the internal control system of the company. Working papers and related data shall be submitted and converted into audit and follow-up reports. Annual audit plan items shall encompass major control operations of financial and business conduct including acquisition and disposal of assets, derivative security transactions, lending of funds to other parties, endorsements and guarantees, supervision and management of subsidiaries, information and communication security inspections and transaction cycles.
Annual audit plans and all revisions shall be ratified by the Board of Directors. Audit reports ,working papers and relevant information shall be preserved for a minimum of five years.
