doosan

Audit Committee Status

Chair: Iny Hwang / Total number of committee members: 3

Iny HwangOutside director
Date of appointment 2019-10-01
Position Director(Part-time)
Tenure 3 years
Status of
insured
Insured
Yangguk SeonOutside director
Date of appointment 2019-10-01
Position Director(Part-time)
Tenure 3 years
Status of
insured
Insured
Hanik JeongOutside director
Date of appointment 2019-10-01
Position Director(Part-time)
Tenure 3 years
Status of
insured
Insured

Procedure for Election of Audit Committee Members

  1. Composition of
    a pool of candidates
  2. Outside Director
    Candidates Committee
    Selection of outside director candidates who will serve as ACMs
  3. Board of Directors
    Decision on recommendation of ACMs will serve as Audit Committee Members
  4. General Meeting of Shareholders
    Election after the passing of relevant resolution

Audit Committee – composition/functions

Composition

  1. 1. The Company shall have the Audit Committee instead of auditors per Article 47 hereof.
  2. 2. The Audit Committee shall consist of at least 3 (three) directors.
  3. 3. At least two-thirds of the Audit Committee members shall be outside directors. Members who are not outside directors shall meet the requirements stipulated in the Commercial Act, Article 542-11(3)
  4. 4. The Audit Committee shall elect one to represent it. In this case, the Committee may decide that it shall be co-represented by a few members

Functions

  1. 1. Matters pertaining to General Meeting of Shareholders (GMOS)
    • Asking for the convincing of an extraordinary GMOS
    • Expressing opinions on agenda items and documents submitted to GMOS
  2. 2. Matters pertaining to directors and the Board of Directors (BOD)
    • Obligation to report to the BOD
    • Submittal of audit reports
    • Asking for steps to stop directors’ illegal act
    • Asking directors to submit a business report
    • Carrying out matters entrusted by directors
  3. 3. Matters pertaining to the Auditor
    • Investigation of business/asset status
    • Investigation of subsidiaries
    • Receipt of directors’ reports
    • Representatives between directors and the Company
    • Decision on whether file a suit, where minority shareholders ask for such an action against a director
    • Selection of outside directors
    • Receipt of a report on a director’s dishonest act relating to his/her job or an important fact about violation of the law or the Company’s Articles of Incorporation from outside auditors
    • Receipt of a report on the Company’s violation of accounting standards from
    • Appraisal of the internal control system
    • Matters requiring the Audit Committee’s decision as per the law, the Company’s Articles of Incorporation or the BOD; matters deemed necessary by the Audit Committee

Status of departments providing support for the Audit Committee

  1. BOD
  2. Audit Committee
    1. Management Support Team
    2. Financial Planning Team
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