The purpose of the Audit Office is to assist the Board of Directors and managers in inspecting and reviewing defects in the internal control systems as well as evaluating operational effectiveness and efficiency. Timely recommendations for improvements can thus be made to ensure the sustained operating effectiveness of the systems and to provide a basis for review and correction, promoting smooth operation of Fiti.
♦ Organization of the Audit Office
Fiti's Audit Office is under the Board of Directors and is dedicated to internal auditing. According to the size of Fiti, business situation, management needs and other relevant laws and regulations, there are two full-time internal auditors.
♦ Audit Office Operations
The internal auditors shall be detached, independent, objective, and impartial in performing their duties, and shall exercise due professional care. In addition to reporting their audit results to the independent directors on a regular basis, the internal audit officer shall also attend and discuss the audit report in the Board of Directors meetings.
The main duties are as follows：
1. Formulate an annual audit plan for the parent company and subsidiaries based on the risk assessment results.
2. Review the self-assessment reports of each unit and subsidiary.
3. Follow up on the status of corrections of the defects and irregularities of the internal control systems.
4. Execution of other projects.
♦ Internal auditors' appointment, dismissal, evaluation and salary compensation
Fiti has established the following internal audit implementation rules：
The appointment or dismissal of the chief internal auditor shall be approved by the Audit Committee and submitted to the Board of Directors for resolution. The evaluation and commpensation of internal auditors are handled according to Fiti's internal policies.