Internal Audit
Internal audit of risk management
The Risk Management Departmant is accountable for conducting internal risk audits and serves as the third line of defense in the risk management process. Risk audits involve the supervision and evaluation of risk management measures to ascertain their effectiveness. The outcomes of these audits are regularly repored to the Board of Directors and the Sustainability and Risk Management Committee,serving as a reference for developing risk management strategies.
Risk management mechanisms:
- Identification：Risk analyses by other professional bodies as well as internal risk identification information are all taken into account to ensure that risks are considered in a more substantive and comprehensive manner.
- Classification：Review the identified medium and high risks on an annual basis to ensure proper management of risks and control measures.
- Mitigation actions：Our existing risk identification, tracking and response capability was enhanced through the introduction of Key Risk Indicators (KRI) for focused risks of concern to the Company.
- Business Continuity Plan, BCP：Centering business continuity as its core value, the Company continuously monitors and invests in risk control, preparing for potential external and internal risks that may influence its operation.
