Internal Audit Responsibilities
AIROHA has an independent Internal Audit Unit that reports directly to the Board of Directors in accordance with the applicable laws and regulations.
Regular internal audit works are executed according to the annual audit plan approved by the Audit Committee and Board of Directors. The plan is based on the risk assessment result. Deficiencies identified in the internal control system and recommendations for improvements in the audit reports are regularly submitted to, and reviewed by, the Board of Directors. Any significant deviation from the approved audit plan will also communicate to senior management and the Board of Directors through the periodic activity reports.
It also examines the annual internal control self-assessment process and results from departments and subsidiaries. The consolidated self-assessment result is provided for the Board of Directors to evaluate the overall efficiency of existing internal control systems before generating an internal control statement.
According to the company’s administrative rules, the appointment, dismissal, evaluation and review, salary and compensation of internal auditors are submitted by the Chief Auditor to the Chairman for approval. In addition, the appointment, dismissal of Chief Auditor should be submitted to Audit Committee and board meeting according to the applicable laws and regulations.