Corporate Governance

Aker, based on the"Regulations Governing Establishment of Internal Control Systems by Public Companies"specifies items for judging the effectiveness of the internal control system. These judgment items, following the process of management control, divide the internal control system into five components: control environment, risk assessment, control activities, information and communication, and monitoring activities. Therefore, Aker regularly adjusts the design and implementation of internal controls as time progresses.
Aker plans an annual self-assessment of internal controls. First, each unit conducts a self-check, then the internal audit unit reviews the self-check reports. Finally, the findings of internal control deficiencies and improvements on abnormal issues discovered by the audit unit are combined to provide the Board of Directors and the General Manager with a basis for evaluating the overall effectiveness of internal controls and issuing the Internal Control System Statement.

Aker's internal audit is an independent unit reporting directly to the Board of Directors, the Chairman, and the Audit Committee. The head of audit attends each board meeting to report. The unit conducts independent and objective investigations and evaluations of various internal control systems for all company units and subsidiaries, providing timely improvement suggestions to ensure the continuous effective implementation of internal controls and assist management in achieving their objectives.
The audit work is mainly carried out according to the audit plan approved by the Board of Directors. This plan is formulated based on identified risks, with special audits or reviews conducted as needed. Internal auditors truthfully disclose their audit findings in audit reports and regularly follow up on improvements, reporting to the Board of Directors.
The appointment and dismissal of the head of audit are approved by the Board of Directors. The appointment, dismissal, evaluation, and compensation of internal auditors are all carried out according to company systems, with the head of audit signing and reporting to the Chairman for approval.