- The internal audit unit of the 104 Corporation is an independent unit under the board of directors. Besides presenting reports to the board of directors regularly, it is also responsible for presenting reports irregularly to the chairman, supervisors, and senior management, as needed.
- The Company has established an internal audit system, an internal control system, and inspection guidelines and, based on the outcomes of inspections for the current year and after having distinguished the extent of various recurring risks, draws up the annual audit plan for the following year, which is to be implemented following the approval of the board of directors. Additionally, depending on operational needs, the company conducts special audits that cover all operations of the company and subsidiaries. Besides enabling management to understand existing or potential issues through internal audit and internal control activities, follow-ups on correction, improvement and prevention measures taken in response to audit discoveries are conducted and submitted to management to inform them of the improvement outcomes.
- The company and subsidiaries conduct at least one self-assessment of the internal control system each year. Results of the self-assessment are re-verified by the Auditing Office to ensure their quality and are integrated to be presented to the board of directors and senior management, serving as the primary basis for the effectiveness of the internal control system and the procucing of the Internal Control System Statement.
Internal Control Statement