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The purpose of the Audit Committee is to assist the Board of Directors in fulfilling its oversight responsibilities and improving relevant actions to obtain reasonable assurance regarding the following:
1. Effectiveness of corporate governance processes, risk management, and internal controls.
2. Integrity of financial reporting.
3. Effectiveness of internal audit.
4. Oversight of the performance, independence, and effectiveness of the independent auditor.
5. Compliance with standards, laws, regulations, and requirements.
6. Proposing and introducing independent auditors to the General Assembly of Shareholders for appointment, determining fees, and dismissal.
7. Receiving and reviewing audit reports and ensuring timely and correct corrective actions are taken by management to address weaknesses and deficiencies.
8. Monitoring the performance of the audit committees of subsidiary companies and providing professional feedback.
9. Reviewing independent auditor reports and management letters of subsidiary companies and providing professional opinions.
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