Universal Scientific Industrial

Corporate Governance

Internal Audit

The Group Internal Audit was established under the board of directors to assist the board of directors and management in inspecting and evaluating the effectiveness of the internal control system, assessing the effectiveness and efficiency of the company's operations; the reliability, timeliness and transparency of reports, and the compliance with applicable laws and regulations, as well as making timely recommendations for improvements to reasonably ensure the continuous operating effectiveness of the internal control system and to serve as the basis for reviewing and revising the internal control system.

Group Internal Audit comprises an internal audit head and an appropriate number of qualified and dedicated internal auditors, as required by business scale, business condition, management needs, and the provisions of other applicable laws and regulations. Any appointment and dismissal of internal audit head is submitted to the board of directors for a resolution and relevant rules should be stipulated in the internal audit implementation rules for compliance.

Group Internal Audit establishes a risk-based internal audit system and performs internal audit activities in accordance with the annual audit plan approved by the board of directors, and the scope of internal audit includes internal control systems of the company and its subsidiaries. The internal control self-assessment reports, prepared by the company and its subsidiaries and reviewed by Group Internal Audit on an annual basis, along with audit reports on findings of internal control system identified by Group Internal Audit serve as the basis for the board of directors and general manager to assess the overall effectiveness of the internal control system and to produce internal control system statements.

The internal audit head presents and communicates the audit results to the audit committee, as well as reports internal audit activity report to the board of directors on a quarterly basis. The summary of communications between the independent directors and the internal audit head is listed below.
Universal Scientific Industrial

Please enter key words

Tell USI what you think

Would you please take a minute to send USI your feedback?
Your feedback is anonymous.

Subscribe USI

Stay tuned on our Blog for the latest innovative
technology, application, and industry insight.

Go subscribe
Already subscribed
Universal Scientific Industrial
Forgot Account ID?

Please send email to service@usiglobal.com for further assistance.

Please scan this QR Code via WeChat and share it.