▶️Internal Audit
WPG Holdings established the Audit Office directly attached to the Board of Directors to improve corporate governance. Functions of the Audit Office were supervised by the Audit Committee, whereas the Chairman managed its daily administrative affairs. The audit office mainly focuses on the routine audits of the annual audit plan and performs project audits when necessary to find out deficiencies in the internal control system and propose improvement suggestions in due course. After the audit is completed, the Audit Office will submit an audit report to the Audit Committee, and the chief internal auditor is responsible for reporting the implementation status and results to the Audit Committee and the Board of Directors on a regular basis to uphold the spirit of corporate governance. In addition, the Audit Office also urges all units to perform selfassessment annually, implement a self-monitoring mechanism, review the results of self-assessment, and serve as the basis for internal control statements for the Board of Directors and Audit Committee together with the audit report.
Based on the 2024 audit plan approved by the Board of Directors, the Audit Office conducted the audit on financial, business, operational, regulatory compliance and management systems across various departments and groups. The aim was to establish sound corporate governance practices and risk control mechanisms. In 2024, the Audit Office conducted a total of 58 audits and, according to the audit plans, performed supervisory audits of subsidiaries in Shanghai and Shenzhen, China, Singapore, and the United States. Monthly and quarterly audits were conducted on derivative product operations as well as funds lending and endorsement guarantees, with reports issued accordingly, all of them were finalized. Meanwhile, the Audit Office continued to follow up the improvement status based on the improvement plans responded by the audited units and report the results of the improvement follow-up to the Audit Committee and Board of Directors regularly.
Responsibilities of the Internal Auditors
Internal Audit Risk Process
