The internal audit function aims to assist the Board of Directors in examining and reviewing deficiencies in the internal control system, and in evaluating operational effectiveness and efficiency. It provides timely recommendations for improvement to ensure the ongoing effectiveness of internal controls and serves as a basis for reviewing and updating the system.
The internal audit unit reports directly to the Board of Directors. The appointment and dismissal of the chief auditor must be approved by the Board. The Company appoints a chief auditor and assigns an appropriate number of full-time internal auditors to each subsidiary. The appointment, performance evaluation, and compensation of audit personnel are managed in accordance with the Company’s internal authorization rules and approved by the Chairperson upon recommendation of the chief auditor.
Internal audits are conducted based on an annual audit plan developed through risk assessment and approved by the Board of Directors. Internal auditors carry out audits in accordance with the plan and issue written audit and follow-up reports, which are regularly submitted to independent directors for review.
The internal audit unit also reviews internal control self-assessments conducted by each department and subsidiary. These results, along with findings from audit activities and their corrective actions, form the basis for the Board and management to evaluate the overall effectiveness of the internal control system and to issue the Statement on Internal Control.
In 2024, all internal audit personnel completed 12 hours of continuing education, in compliance with the “Regulations for Establishing Internal Control Systems for Publicly Listed Companies.”
