The Company’s Internal Audit Unit is the Audit Office, an independent unit reporting directly to the Board of Directors. In addition to reporting at the Board of Directors’ and Audit Committee’s regular quarterly meetings, the Internal Audit Unit also reports to the Chairman when necessary.


The appointment and removal of the Head of the Audit Office should be approved by more than half of the actual serving members of the Audit Committee and adopted by resolution of the Board of Directors. If approval is not obtained from more than half of the actual serving members of the Audit Committee, it may be resolved by more than two-thirds of all directors, and such resolution of the Audit Committee shall be recorded in the Board meeting minutes. If an independent director expresses dissenting or reserved opinions, such opinions shall also be recorded in the Board meeting minutes.

Performance evaluations and remuneration of the Internal Audit Office personnel shall be submitted by the Head of the Audit Office to the Chairman of the Board for review.

The Internal Audit Implementation Guidelines specify that the Internal Audit Office assists the Board of Directors and management in examining and reviewing deficiencies in the internal control system and assessing the effectiveness and efficiency of operations. It provides timely recommendations for improvement to ensure that the internal control system can be continuously and effectively implemented and serve as a basis for reviewing and revising the internal control system. The internal audit scope covers all units of the Company and its subsidiaries.