Cosco Shipping Holdings Co., Ltd. recently announced the rules of the board of directors' audit committee, which were approved for deliberation at the second meeting of the seventh board of directors of the company. The new rules are intended to improve and regulate the deliberation and decision-making procedures of the audit committee, enhance work efficiency and the level of scientific decision-making, and ensure the smooth progress of work. The rules are formulated in accordance with relevant laws, regulations, and listing rules, and take into account the actual situation of the company. The responsibilities of the audit committee include formulating policies for hiring external auditors, supervising the work of external auditors, reviewing the company's financial reports, inspecting internal...Show More

Cosco Shipping Holdings Co., Ltd. recently announced the rules of the board of directors' audit committee, which were approved for deliberation at the second meeting of the seventh board of directors of the company. The new rules are intended to improve and regulate the deliberation and decision-making procedures of the audit committee, enhance work efficiency and the level of scientific decision-making, and ensure the smooth progress of work. The rules are formulated in accordance with relevant laws, regulations, and listing rules, and take into account the actual situation of the company. The responsibilities of the audit committee include formulating policies for hiring external auditors, supervising the work of external auditors, reviewing the company's financial reports, inspecting internal monitoring and risk management systems, etc. The audit committee is composed of no fewer than three non-executive directors, with the majority being independent non-executive directors and at least one having professional accounting qualifications. The meeting system stipulates that the audit committee must hold at least one meeting every quarter and may convene temporary meetings as needed. In addition, the audit committee's meeting resolutions must be passed by a majority of its members, and the chairman has decisive voting power. The company will ensure that the audit committee has sufficient resources to perform its duties and the board of directors will be responsible for interpreting the rules of the committee's deliberations.