TO strengthen internal supervision and risk control, recently, Triumph Group has
conducted a comprehensive internal audit of its branches and subsidiaries. By
late July, it had completed the internal audit of 16 affiliated enterprises,
including Huaguang Group, Triumph Heavy Industry, Jiangsu branch, Shenzhen
branch, etc.
This audit has been scheduled
in the audit program of 2014. To accomplish the work, Triumph Group established
a special audit project team, and clarified the objects, schedule, scope, main
contents and methods of the audit. Peng Shou, the Chairman, President and Dean,
delivered an important speech at the mobilization meeting of the special
internal audit.
The special audit project team
mainly audited the financial books of affiliated enterprises in 2013, the
implementation of the “three-important and one-major” decision-making system, the internal control management system and risk control
of enterprises, etc., and checked the approval materials of purchase and sales
contracts and user incentive measures, the approval management of major
financial affairs, the reports of business operation analysis and summary, the
declaration and use of state-owned capital funds and government subsidies and so
forth. The team also talked with related leaders and business personnel to
further know about the operation management of enterprises regarding relevant
audit issues. With respect to the problems identified and the suggestions
proposed, the audited units were required to conduct careful inspection and
rectification and urged to submit their rectification report within the
prescribed time limit, with the purpose of effectively guiding and prompting
the managers of the audited units to voluntarily comply with the internal
control system, prevent various risks, improve their operation performance and
promote better and faster enterprise development.
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