Audit System
1. Audit Committee
As of the date of submission of the report, Alteogen do not have a separate audit committee, and one corporate auditor who is appointed by resolution of the general shareholders’ meeting conducts auditing.
2. Auditor’s personal information
| Classification | Name |
|---|---|
| Corporate Auditor | Byung Kyu Lee |
| Classification | Corporate Auditor |
| Name | Byung Kyu Lee |
3. Audit Independence
Auditors audit accounting and business and do business from the independent location of the Board of Directors and other departments.
Also, in order to access management information necessary for the audit, Alteogen’s articles of association include the following provisions:
Article 50 (Duties of Auditor)
① The auditor audits the company’s accounting and business.
② The auditor may request the convening of an extraordinary general meeting of shareholders by submitting a document stating the purpose of the meeting and the reason for convening to the board of directors.
③ The auditor may, when necessary to perform his/her duties, request the subsidiaries to report their business. In this case, if the subsidiary fails to report without delay or it is necessary to confirm the details of the report, the business and property status of the subsidiary may be investigated.
④ Concerning Audit, paragraph 3 of Article 40 shall be correspondingly applied.
⑤ The auditor may seek expert help at the company’s expense.
⑥ If necessary, the auditor may request the convening of the board of directors by submitting a document stating the purpose of the meeting and the reason for convening the meeting to the person authorized to convene the board of directors.
⑦ If a director fails to convene a board of directors meeting without delay even after making a request under Paragraph 6, the auditor may convene the board of directors meeting.