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The Board has overall responsibilities for maintaining effective
internal control systems of the Group. The Internal Audit Department
of the Company reports directly to the Audit Committee and is independent
of the Company's daily operation. It is responsible for conducting
regular audit on the major activities of the Group. Its objective
is to ensure that all material controls, including financial, operational
and compliance controls and risk management functions are in place
and functioning effectively.
During the year ended 31 December 2015, the Board, with the assistance
of the Internal Audit Department and the Audit Committee, conducted
an annual review on the effectiveness of the Group's system of internal
control. The review also included the consideration of the adequacy
of resources, staff qualifications and experience, training programmes
and budget of the Company's accounting and financial reporting function.
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