Genius Solution for SEMI-EQ. 

The design, implementation, and examination of the Company's internal control system are carried out in accordance with the guidelines for establishing internal control systems for public companies and related laws and regulations.

 

Internal Audit Organization and Objectives

The internal audit unit is under the jurisdiction of the Board of Directors, and its establishment is aimed at assisting the Board of Directors and management in examining and reviewing deficiencies in the internal control system. It gauges the efficacy and efficiency of operations and provides timely improvement recommendations to ensure the continuous and effective implementation of the internal control system, serving as a basis for reviewing and amending the internal control system.

 

The Company's Internal Audit/Control Office, considering its organizational size, business conditions, and management needs, appoints qualified and appropriate personnel and designates job proxies as needed. The audit unit regularly reports its audit activities to the Board of Directors. The appointment and dismissal of the head of internal audit must be approved by the Board of Directors. The appointment, evaluation, and compensation of internal audit personnel are carried out in accordance with relevant personnel regulations.

 

Scope of Audit

The company conducts inspections of its internal control system to assess the efficacy of current policies and procedures. Internal audits cover the examination and evaluation of the adequacy and efficacy of internal control systems in various departments within the Company. It also assesses the efficiency and compliance of operational activities and their impact on various operational processes.

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Duties and Authority of Internal Auditors

Internal auditors are responsible for conducting audits in accordance with principles of honesty and credibility. They must adhere to the behavioral standards set by the regulatory authorities. Internal audit operates independently, maintaining an objective and impartial stance, guided by a commitment to seeking the truth with diligence and professionalism.

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During the audit process, internal auditors have the authority to inquire into any doubts and may request detailed information from the relevant units. They have the right to access the records, reports, and pertinent documents of the audited units. If necessary, written explanations may be requested from the audited units, and the staff of the audited units are expected to cooperate to the best of their abilities.

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In the course of their work, auditors may access all records, and the audited units are not allowed to refuse or conceal any information. For confidential files, access must be approved by the head of audit unit before review.

 

Internal auditors may also conduct special audits when deemed necessary.

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Responsibilities of Internal Audit

1. Developing annual audit plans based on risk assessments and submitting it for approval by the Board of Directors.

2. Implementing the approved annual audit plan, which may include special audit projects or initiatives requested by the Board of Directors.

3. Monitoring the progress of improvements in areas of abnormal internal controls.

4. Maintaining a team of professional auditors with adequate knowledge, skills, experience, and relevant certifications.

5. Regularly reporting summarized audit findings to the Board of Directors and senior management.

6. Providing advisory services to assist senior management in achieving company objectives.

7. Fulfilling any other duties and responsibilities as required by applicable laws and regulations.

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Internal Control Self-Assessment

The audit unit will review the self-assessments conducted by various departments within the Company and consolidates the results of these self-assessments, along with information on improvements made in response to identified internal control deficiencies and abnormalities. These findings serve as the basis for evaluating the overall efficacy of the internal control system, as well as for the preparation of internal control statements for review by the Board of Directors and senior management.