| 1. |
Copartner’s Internal Audit department is an independent unit that reports directly to the Board of Directors. The department regularly reports the investigation results to the board of directors and the supervisor. The appointment and dismissal of the Internal Audit Supervisor must be approved by the Board of Directors. |
| 2. |
The charter of Internal Audit is to review the internal controls in the company’s processes and to report on those controls with respect to the adequacy, effectiveness, and efficiency of their design as well as their actual functioning on day-to-day basis. All divisions of the company and its subsidiaries are open for review by Internal Audit. |
| 3. |
The audit work consists of the regular audit and the special audit; the regular audit is executed according to an annual plan by internal auditor; the special audit is based on risks and urgency, or requests from the board of directors, to conduct “the special investigation”. |
| 4. |
There are six full time employees dedicated to Internal Audit including one director and five staffs; Internal Auditors must be honest and loyal, with the suitable experience in audit or finance or accounting and the management. |
| 5. |
The company supplements the review activities by Internal Audit with documented self- Inspections by the departments and operational units. Internal Audit sees to it that these activities do take place, and reviews the submissions to ensure the quality of the process; it consolidates the results of the self-Inspection for the General Manager and the Board Chairman. |
