Internal Control and Risk Management
The company places great importance on its internal control system. The board of directors has appointed and delegated the audit committee to verify the various functions within the company to ensure that the internal control system is adequate, appropriate, and efficient in preventing and reducing risks to a minimum, such as leaks, waste, or misconduct. Additionally, the company verifies the accounting system and financial reports to ensure their accuracy, reliability, compliance with laws and regulations, and compliance with good corporate governance principles. This ensures that all company operations are consistent and achieve the objectives set by the management.
Internal Controls and Internal Audit
The company continuously emphasizes the importance of internal control by appointing and delegating the audit committee to verify the internal control system, with a focus on making it adequate, appropriate, and efficient for business operations and effective resource utilization, asset protection, risk prevention, error reduction, and compliance with laws, regulations, and relevant rules. The company also oversees good corporate governance practices.
The company has an independent internal audit department, and internal audit reports related to internal audits are reported to the audit committee. Reports related to the organization's management are reported to the chairman of the board of directors under the internal audit charter, which clearly defines the responsibilities, objectives, and responsibilities.
The internal audit department verifies the operations of various departments in the company and evaluates the internal control system according to the annual audit plan approved by the audit committee and management. The evaluation criteria are based on the importance of the business process or work process and the level of risk. The department also provides advice and recommendations to the management of each department to improve their internal control, including rules and procedures to increase efficiency and effectiveness in operations, which are continually updated and improved.