Summary by Moomoo AI
IUCO INDUSTRIAL CO., LTD. UPDATED THE TERMS OF REFERENCE OF THE AUDIT COMMITTEE ON 1 MAY 2024 TO ENSURE THAT ITS INTERNAL MONITORING SYSTEM OPERATES EFFECTIVELY AND COMPLIES WITH RELEVANT REGULATORY REQUIREMENTS. The Audit Committee is composed of independent non-executive directors, at least one member of whom has accounting or related financial management expertise. The Chairman of the Committee is appointed by the Board of Directors and reports directly to the Board. The Audit Committee oversees the integrity of the company's financial statements and manages relationships with external and internal auditors. The Committee has the right to investigate any activity, review the accounts and obtain information provided by management. In addition, the Committee may seek outside professional advice and have...Show More