Internal Audit

Internal Audit Organization:

1-TRIOCEAN’s Internal Audit function is an independent unit that reports directly to the Board of Directors.

2-Besides informing the Board during its ordinary meetings, it briefs the Chairman, and the CEO on a monthly and on as needed basis.

3-TRIOCEAN’s internal audit unit configuration of a full-time auditors who conduct routine or special audits.

Internal audit works:

1-The draft and execution of annual audit plan: according to the internal audit annual plan (or actual implementation situation), performed verification.

2-Reporting to the Board:
a) Regular report of audit business to the board of directors.
b) Submission of a written report to the board of directors on the implementation of improvement of audit deficiencies brought up by the CPA and internal audit, and on matters specified in the internal control system statement for stronger improvement efforts.

3-Monitoring self-inspection of the internal management system:
a) Monitoring the formulation of procedures for self-inspection of the internal management system by business and management units
b) Conducting self-inspection at least once a year, monitoring and reviewing the Implementation of self-inspection by each unit of the financial holding company
c) Submit the internal management system statement to the board of directors for approval, and disclosure of the information publication on a website designated by the competent authority within four months from the end of each fiscal year

4-Follow-up and monitoring of audit deficiencies: Continual conduct of follow-up reviews on any audit deficiencies brought up by the CPA and internal audit, and on matters specified in the internal control system statement as requiring stronger improvement efforts