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 established an Office of Audit & Supervisory Board Members with four full-time staff members 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.
- ② Approximately 120 minutes was devoted to Audit & Supervisory Board meetings in an average month, and 21 proposals were placed on the meeting agenda this fiscal year.
- (2) Key matters for sharing and consideration in Audit & Supervisory Board meetings
- Audit policy, audit plans, and segregation of duties
- Interview policy and major activities of Audit & Supervisory Board Members
- Audit Reports by Audit & Supervisory Board
- Consent for “Election of Audit & Supervisory Board Members” as proposals in General Meetings of Shareholders
- Evaluation of Accounting Auditors
- Evaluation of the effectiveness of Audit & Supervisory Board
- Internal audit plans and results thereof
- Prior approval by Audit & Supervisory Board for non-assurance engagements by the audit firm
- Status of execution of duties by Audit & Supervisory Board Members on a monthly basis
- (3) Activities of Audit & Supervisory Board Members
Audit & Supervisory Board Evaluation for Fiscal 2022
Audit & Supervisory Board conducted Audit & Supervisory Board evaluation for fiscal 2022 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, it is becoming more important to audit the operation status of the management structure and the implementation status of risk management and BCP. The Audit & Supervisory Board will draw on these results in terms of applying them to initiatives to be carried out for subsequent fiscal years.