Strengthening Oversight Functions through Collaboration between Outside Directors, Audit & Supervisory Board Members and Audit Bodies
First written in FY2017. 2 of 3 entries say "Advanced", first in FY2019. Latest entry: FY2021.
The whole theme swung hardest in 2023: 3 of 24 companies on the "Worse" side.
18 other companies' latest entry also says "Advanced".
- FY2021AdvancedAnnual report
「With respect to mutual cooperation between the Audit & Supervisory Board members and the accounting auditor, meetings are held 4 times a year for the exchange of information and opinions. The Audit & Supervisory Board members and the Internal Audit Office also hold a regular meeting once a month to promote mutual cooperation and confirm the progress of audit policies.」
The operating arrangements for cooperation among the Audit & Supervisory Board members, the accounting auditor and the Internal Audit Office are described, including meetings held 4 times a year and once a month, respectively. - FY2019AdvancedAnnual report
「Outside directors receive reports at meetings of the Board of Directors on the implementation of internal control activities within the company and are responsible for improving the effectiveness of management oversight and monitoring. At meetings of the Board of Directors and the Audit & Supervisory Board, outside Audit & Supervisory Board members ascertain the status of the development and operation of internal controls as a whole and the status of risk management, receive reports from the accounting auditor on the performance of its duties, and cooperate with the internal audit and internal control departments and the accounting auditor. They are also responsible for improving the effectiveness of auditing through the exchange of information and opinions as appropriate.」
The specific operating arrangements include oversight by 1 outside director and 2 outside Audit & Supervisory Board members, together with cooperation with internal audit and the accounting auditor. - FY2017First statedAnnual report
「Outside directors receive reports at meetings of the Board of Directors on the implementation of internal control activities within the company and are responsible for improving the effectiveness of management oversight and monitoring. At meetings of the Board of Directors and the Audit & Supervisory Board, outside Audit & Supervisory Board members ascertain the status of the development and operation of internal controls as a whole and the status of risk management, receive reports from the accounting auditor on the performance of its duties, and cooperate with the internal audit and internal control departments and the accounting auditor. They are also responsible for improving the effectiveness of auditing through the exchange of information and opinions as appropriate.」
The disclosure presents as a standalone initiative the strengthening of governance through oversight by outside directors and outside Audit & Supervisory Board members, cooperation with internal audit and the accounting auditor, and regular exchanges of information.