8.3 Rules

8.3.1    Implementation of the Audit

The CCO shall implement the Audit based on the instructions of the CEO/President.

8.3.2 Audit Plan

The CCO shall, in advance, prepare the annual audit plan in which basic audit policies, audit items, audit outlines, and other necessary matters are described and obtain the approval of the CEO/President. However, this shall not apply to an extraordinary audit.

8.3.3 Internal Auditors

Staff of the Compliance Section under the CCO (staff who implement the Audit including the CCO shall be referred to as the “Internal Auditors” collectively hereinafter) shall implement the Audit under the CCO.

8.3.4 Notification of Implementation

The CCO shall give a written notice to Heads of the Sections/Divisions, etc. subject to the Audit in advance when implementing the Audit. Provided, however, that in the case where the situation is urgent and it is deemed particularly necessary, the CCO may give such notice verbally.

8.3.5     Request of Report

In implementing the Audit, the Internal Auditors may request relevant Sections/Divisions, etc. subject to the Audit to submit related materials, explanation of the facts, and reports and carry out other actions necessary for implementing the Audit so that the Audit can be implemented efficiently and effectively. The Sections/Divisions, etc. subject to the Audit may not reject the request of 8.3.5 without legitimate reasons.

8.3.6 Confidentiality

The Internal Auditors shall not reveal to others any matters that are acquired in the course of fulfilling their duties without legitimate reasons.

8.3.7     Exchange of Opinions after the Audit

After the completion of the Audit, the Internal Auditors shall hold a review and exchange opinions with the Sections/Divisions, etc. subject to the Audit to explain the audit results and confirm problems.

8.3.8     Cooperation with Other Audit Functions

The CCO and the Compliance Section must endeavor to improve audit efficiency by cooperating and coordinating with the OIST Auditors and Accounting Auditors.

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