Status of Audit by Audit & Supervisory Board Members for Fiscal 2022
1.Organization, personnel and procedures of the audit by Audit & Supervisory Board Members
- (1) The Company is a company with an Audit & Supervisory Board, and Audit & Supervisory Board comprises of five Audit & Supervisory Board Members (two Full-time Audit & Supervisory Board Members and three Outside Audit & Supervisory Board Members), which includes one certified public accountant.
- (2) The Company has Office of Audit & Supervisory Board Members with four full-time staff independent of the execution of business operations, to provide assistance in the execution of the duties of Audit & Supervisory Board Members.
2.Activities of Audit & Supervisory Board and its Members
- (1) Frequency of Audit & Supervisory Board meetings and meeting attendance of each Audit & Supervisory Board Member
- ① Aside from Audit & Supervisory Board meetings, exchanges of views among Audit & Supervisory Board Members are held after the Board meetings,etc.
- ② 22 proposals were placed on the meeting agenda this fiscal year, and approximately 120 minutes was devoted to a regular Audit & Supervisory Board meeting on average.
- (2) Specific sharing and considerations in Audit & Supervisory Board
- Audit policy, audit plans, and division of duties
- Interview policy and major activities of Audit & Supervisory Board Members
- Audit Reports by Audit & Supervisory Board
- Consent for the Proposal in General Shareholders Meeting “Election of Audit & Supervisory Board Members”
- Evaluation of Accounting Auditors
- Evaluation of the effectiveness of Audit & Supervisory Board
- Internal audit plans and results
- Prior concent by Audit & Supervisory Board for non-assurance services by the audit firm
- Monthly execution status of duties by Audit & Supervisory Board Members
- (3) Activities of Audit & Supervisory Board Members
Audit & Supervisory Board Evaluation for Fiscal 2022
Audit & Supervisory Board evaluation for fiscal 2022 was conducted to heighten its effectiveness of Audit & Supervisory Board.
Implementation method of the Audit & Supervisory Board evaluation
Audit & Supervisory Board established a wide range of evaluation items associated with Audit & Supervisory Board effectiveness. Each Audit & Supervisory Board Member conducted a self-evaluation of Audit & Supervisory Board then discussed those matters.
Results of the evaluation of the Audit and Supervisory Board
It was confirmed that the activities of Audit & Supervisory Board were conducted appropriately overall and that its effectiveness was ensured.
As business expands globally, the importance of auditing the operation status of the management structure, the implementation status of risk management and BCP has been increasing. Therefore, the Audit & Supervisory Board will draw on these results in terms of applying them to initiatives to be carried out for subsequent fiscal years.