King Slide’s internal audit unit reports directly to the Board of Directors. The internal audit unit includes 1 audit supervisor and 1 auditor. Additional internal auditors shall be approved by the Board of Directors on as needed basis.
The internal audit is executed in accordance with the internal audit plan, which is established upon risk evaluation and approval by the Board of Directors. The internal audit unit needs to identify possible internal control deficiencies, provide improvement recommendations and issue audit reports to present to the Board of Directors.
The internal audit supervises all departments and subsidiaries to perform annual self-inspections on the effectiveness of the internal control system. The internal audit then examines and consolidates related inspection reports for the President and Board of Directors to evaluate the overall efficiency of existing internal control systems before generating an Internal Control System Statement.
Appointment and Removal of Auditors
The appointment and removal of internal auditors and their remuneration must be reported to the company’s Board of Directors. The evaluation of internal auditors is carried out twice a year and signed by the audit supervisor to be approved by the chairman of the company.