Governance
公司治理
Internal Audit
Organization of internal audit
Zhenyu has established an internal audit unit directly overseen by the board of directors. The audit unit is led by one audit manager, and it is staffed with a suitable number of dedicated internal auditors in accordance with the company’s size, business conditions, management requirements, and other relevant legal provisions. These internal auditors are responsible for conducting audits within Zhenyu.
Role of internal audit
- The purpose of internal auditing is to examine and evaluate deficiencies in the company’s internal control systems, measure operational effectiveness, and provide timely improvement recommendations to ensure the continued effective implementation of internal control systems, and assist the board of directors and management in fulfilling their responsibilities.
- The nature of internal auditing is supportive of management, ensuring the soundness and accuracy of various operational records and processing procedures, collecting diverse information for presentation to the management level, and providing references for decision-making or planning. In a typical business organization, it operates independently to analyze and assess whether departmental business activities adhere to established standards or regulations, thereby assisting management at all levels in achieving their missions.The purposes of internal auditing in management including:
- Assisting management authorities in achieving the most effective management by adhering to established operational procedures or policies to accomplish their missions.
- Ensuring the accuracy and integrity of various accounting and other operational data; assessing the efficiency (profitability) and effectiveness (fraud prevention) of various business processing procedures.
- Uncovering and recommending corrections for inadequate records and operational systems.
- Safeguarding the security and appropriate utilization of assets.
- Enhancing performance evaluation and control assessments.
