Organization

The internal audit function at Skytech is an independent unit that directly reports to the Board of Directors. In addition to reporting during regular board meetings, the internal audit department also reports to the Chairman of the Board and the Audit Committee quarterly and as necessary.
The internal audit regulations specify that the internal audit department reviews the internal controls for company operations and reports on whether the design and actual daily operation of these controls are appropriate and effective and considered efficiency. The scope of the review covers all units, operations, and subsidiaries of the company.

Operating

Audit work is primarily carried out in accordance with the audit plan approved by the Board of Directors, which is developed based on identified risks. In addition, special audits or reviews may be conducted as needed. In addition to general audits and project execution as mentioned above, internal audit provides objective confirmation of the operation of internal control systems and insights to the management. It also provides an alternative channel for management to understand existing or potential control weaknesses and respond promptly.
The internal audit department reviews the self-checks conducted by various units and all subsidiaries of the company, including checking whether the operations are carried out and reviewing documents to ensure the quality of implementation. The results of self-checks are summarized and reported to the Audit Committee and the Board of Directors.
The internal audit department of our company is staffed with dedicated audit personnel. The appointment and removal of the head of the internal audit department are subject to approval by the Audit Committee and submission to the Board of Directors for decision.