ATII's Internal Audit function is an independent unit that reports directly to Board of Director . Besides informing the Board during its ordinary meetings, the unit delivers reports to the Audit Committee, the chairman, and the CEO as needed as part of the commitment to corporate governance.

 

The charter of Internal Audit is to review the internal controls in the company's processes and to report on those controls with respect to the adequacy and efficiency of their design as well as their actual functioning on day-to-day basis. All parts of the company and its subsidiaries are open for review by Internal Audit.

 

The majority of the audit work is executed according to an annual plan, which needs to be approved by the Board of Directors. Such plan will take into account risks that have been identified. Special audits are conducted as needed. The combination of the regular audits and the special projects provide management with feedback on the functioning of the internal control system; it gives management an additional channel to learn about existing or possible future risk in the system, and address them in a timely manner. We hope the internal control system can be executed effectively. 

 

The company supplements the review activities by Internal Audit with documented self-assessments by the departments and operational units. Internal Audit sees to it that these activities do take place, and reviews the submissions to ensure the quality of the process; it consolidates the results of the self-assessments for the Board of Directors.

 

ATII has 2 internal auditors on staff. The appointment, dismissal, evaluation and review, salary and compensation of internal auditors of ATII shall be submitted by the chief auditor to the board chairperson for approval.