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Internal Auditing

1. Mag.Layers Internal Auditing is an independent unit which directly belongs to the Board of Directors. It needs to not only report in the regular board meeting but report to the president, independent board directors, and supervisors monthly or when necessary.
 
2. The procedure of auditing shows the internal control of the company procedure of internal auditing and audit review. It also reports the design of the control and if the execution achieves appropriate results and efficiency. It covers all operations of the company and subsidiaries.
 
3. Auditing is carried out based on the auditing plan passed by the Board. The auditing plan is decided according to the recognized risks and will be audited or given audit review depending on the required project. With the above-mentioned general auditing and project execution, auditing provides internal control of function operation for the management level. The prompt notification makes the management level understand existing or potential faulty other accesses.
 
4. The Internal Audit Office presents a review of the company and its subsidiaries’ annual self-evaluation, audit findings, corrections and improvements on the internal control system to the board of directors and the president.  This review is an important reference for the board of directors and the president to evaluate effectiveness of the internal control system and issue the Statement of Internal Control.
 
5. There are two employees dedicated to Internal Audit, including full-time auditors and Deputy.