InvestmentINVESTMENT

Corporate governance Corporate governance

1. Purpose of Internal Audit 

The purpose of the internal audit at Ai-Zai-Wei Company is to assist the board of directors and management in examining and reviewing the deficiencies in internal control systems, measuring the effectiveness and efficiency of operations, and providing timely improvement recommendations to ensure the continuous effective implementation of internal control systems and serve as the basis for reviewing and amending internal control systems.

2. Operation of Internal Audit 

The internal audit at Ai-Zai-Wei operates as an independent unit directly under the board of directors. In addition to reporting at regular board meetings, it also reports to the chairman and supervisors on a monthly basis or as necessary.

  1. The internal audit is conducted in accordance with the detailed implementation rules of internal control systems and internal audit, which specify the internal audit review procedures for company operations. It reports on the adequacy of the design and routine operational practices of these controls and their effectiveness and efficiency. The scope includes all operations of the company and its subsidiaries.
  2. Audit work is mainly carried out based on the audit plan approved by the board of directors, which is formulated based on identified risks. Additional project audits or reviews are conducted as needed.
  3. Deficiencies and abnormal findings in internal control systems discovered during audits are not only disclosed in audit reports but also tracked and reported quarterly until improvements are made.
  4. Internal audit reviews self-inspections conducted by various units, including checking whether operations are carried out and reviewing documents to ensure the quality of execution. The results of self-inspections are consolidated and reported to the chairman and the board of directors.
  5. The internal audit unit of the company is staffed with dedicated audit personnel, including one Chief Auditor and three audit specialists, totaling four staff members.
  6. The appointment, evaluation, and compensation of internal audit personnel are reported to the chairman for approval by the audit supervisor.
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