Internal Audit

1.Mission

• To build a top-class audit team.
• To improve YFY Group’s  internal management systems. 
• To support the establishment of systematic and preventive controls.
• To review and simplify operation procedures, set control points, and design control mechanisms into the operation process.
• To enhance the overall optimization of YFY Group through the improvement of processes.

2.Management and Operation System

• Internal audit system includes participating in and supervising the appropriateness and effectiveness of internal controls for the company and its subsidiaries, and providing audit results and improvement recommendations to the Board of Directors and management to ensure the level and quality of internal control operations.
• Centralize management, establish working papers and integrate auditing methods, and implement project audits and risk audit mechanisms.
• Ensure the quality of audits, including:
  - Basing audits on risk.
  - Enhancing sampling methods and computer-assisted auditing techniques.
  - Improving optimization and feasibility of recommendations.
  - Improving the reasonableness of completion dates.
• Play a fully independent role and provide full transparency to management regarding company-level issues.
• Apart from carrying out audits, actively act as a coordinator between audited units, and provide advisory services, implement best practice, and establish preventive system controls.
• Implementation assistance for system projects.
• Assist YFY Group companies in carrying out investment and tax structure analyses, and provide related advisory services.

3.Vision structure

 

 

4.Organization Structure

• YFY’s internal audit team exists as an independent unit under the Board of Directors. The appointment and dismissal of the chief audit executive must be approved by the audit committee and by a resolution of the Board of Directors.
• Pursuant to YFY’s Internal Audit Implementation Rules, the appointment, dismissal, promotion, reward/discipline, rotation and performance review of internal audit team personnel must be signed off by the chief audit executive and approved by the Chairman of YFY Inc. These rules are disclosed on YFY’s official company website under Investor Relations-Corporate Governance-Major Internal Regulations.