Recognizing the importance of effective internal control system as a key component of Good Corporate Governance and also an essential tool for executives in managing various risks associated with the Company.
The Board of Director requires all business units to have a proper internal control system to strengthen effectiveness of business operations as well as appoints independent auditors who report directly to the Audit Committee, to assess effectiveness of internal controls which are used to manage the risks to the appropriate level.
The Company's internal control, as a part of the latent performance with regular practice in all functions and levels, particularly in financial and its core business activities such as product development, determining premium rates, underwriting, claim management, reinsurance, investment, receipt and payment must be clear linked and effective and consistent with the Company’s risk appetite. This helps enable executives and employees to carry out their duties in achieving the Company’s objectives as well as complying with the laws or regulations related to business operations.
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